The following provisions were introduced by Finance Act 2013, with effect from the appointed day, 1 September 2013.
They cover two matters: first, the amount of the employee's earnings in respect of the acquisition of shares pursuant to an employee shareholder agreement; and second, an exemption from any charge to income tax on the benefit of having the employer meet advice costs (connected with entry into the employee shareholder agreement and such acquisition of shares).
Finance Act 2017 changes
Finance Act 2017 (following draft clauses first published on 5 December 2016):
(a)amends ITEPA 2003, s. 226A below, to treat the amount of earnings as equal to the market value of the shares;