# The Finance Act 2014, Schedule 9 (Consequential Amendment) Regulations 2016, Note: Explanatory note


(This note is not part of the Regulations)
The Regulations amend the Income Tax Act 2007 (c. 3).
Part 1 of Schedule 9 to the Finance Act 2014 (c. 26) introduced new rules for the taxation of employment-related securities awarded to internationally mobile employees. It substituted for Chapter 5A of the Income Tax (Earnings and Pensions) Act 2003 (‘ITEPA’) (c. 1) a new Chapter 5B, repealing (amongst other provisions) section 41A.
The Regulations make a consequential amendment to section 809Z7(4A) of the Income Tax Act 2007 so that it now refers to securities income that is “foreign” for the purposes of section 41F of ITEPA in place of the former reference made to section 41A of that Act.
A Tax Information and Impact note covering this instrument was published on 10th December 2014 alongside the draft Finance Bill 2014 and is available on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins. It remains an accurate summary of the impacts that apply to this instrument.

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Source: https://www.legislation.gov.uk/uksi/2016/74/note (the official version)
Page: https://openlegislation.uk/finance-act-2014-schedule-9-consequential-amendment-regulations-2016/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.