Part 8 Supplementary Provisions
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

Part 8 Supplementary Provisions

Power to require information

51

(1)     [An officer of Revenue and Customs] may by notice require a person to provide [the officer] with information—

(a)     which [the officer] reasonably [requires] for the performance of [the officer's] functions under the EMI code, and

(b)     which the person to whom the notice is addressed has or can reasonably obtain.

(2)     The power conferred by this paragraph extends, in particular, to information to enable [an officer of Revenue and Customs]—

(a)     to decide whether a share option is a qualifying option, or

(b)     to determine the liability to tax, including capital gains tax, of any person who has been granted a qualifying option.

(3)     The notice must require the information to be provided within a specified period, which must not end earlier than 3 months after the date when the notice is given.

[Annual returns

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(1)     This paragraph applies in relation to a company whose shares are (or have been) subject to qualifying options.

(2)     The company must give to Her Majesty's Revenue and Customs (“HMRCâ€) a return for each tax year falling (wholly or partly) in the company's qualifying option period.

(3)     The

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