{
  "url": "https://openlegislation.uk/finance-act-2000/schedule-8/paragraph-78",
  "json_url": "https://openlegislation.uk/finance-act-2000/schedule-8/paragraph-78.json",
  "legislation": "ukpga/2000/17",
  "legislation_title": "Finance Act 2000",
  "legislation_url": "https://openlegislation.uk/finance-act-2000",
  "path": "schedule/8/paragraph/78",
  "kind": "paragraph",
  "number": "78",
  "heading": null,
  "text": "(1) Notwithstanding that the beneficial interest in the shares passes to the employee—\n(a) on the award to him of free, matching or partnership shares under the plan, or\n(b) on the acquisition on his behalf of dividend shares under the plan,\nthe value of that interest at the time of the award or acquisition is not treated as income of his chargeable to tax.\n(2) An employee is not chargeable to tax under Schedule E by virtue of section 162(1) of the Taxes Act 1988 (deemed loan in case of shares acquired at an under-value) in respect of the award to him of shares under the plan.\nThis does not affect any charge to tax under section 162(6) of that Act (stop-loss provision).\n(3) Incidental expenditure of the trustees or the employer in operating the plan is not treated as giving rise to any charge to income tax on employees.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch 8. para. 78(3) inserted (11.5.2001 with effect as mentioned in Sch. 13 para. 4(2) of the amending Act) by 2001 c. 9, Sch. 13 para. 4"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/17/schedule/8/paragraph/78",
    "retrieved_at": "2026-10-29T09:21:00.128981+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}