Related HMRC Manuals

68(1)  This section applies where a chargeable event (within the meaning of section 69 below) occurs in relation to the trustees of an employee share ownership trust.

68(2)  In such a case–

(a)the trustees shall be treated as receiving, when the event occurs, income of an amount that is equal to the chargeable amount (within the meaning of section 70 below),

(b)that income shall be chargeable to income tax for the year of assessment in which the event occurs,

(ba)the tax so chargeable shall be charged on the full amount of the income the trustees are treated as receiving in the year of assessment, and

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