Part 7 Chapter 2 ITEPA 2003

Part 7 Chapter 2 ITEPA 2003 was fundamentally amended by Schedule 22 FA 2003 with effect from 1 September 2003.

Conditional shares

Before 1 September 2003, Part 7 Chapter 2 provided a charge to tax as employment income in respect of events relating to:

the acquisition by an employee of a beneficial interest in shares in a company

as a director or employee of that or another company

where the interest is acquired on terms that make it only conditional.

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