Paragraph 9
United Kingdom
An option is a qualifying option only if it is granted for commercial reasons in order to recruit or retain[F1an]employee in a company, and not as part of a scheme or arrangement the main purpose, or one of the main purposes, of which is the avoidance of tax.
Annotations
Textual amendments
- F1
Word in Sch. 14 para. 9 substituted (11.5.2001 with effect as mentioned in Sch. 14 para. 13(1) of the amending Act) by 2001 c. 9, s. 62, Sch. 14 paras. 5, 13
Notes on Schedule 14
Textual amendments
- F1
Sch. 14 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)