{
  "url": "https://openlegislation.uk/finance-no-2-act-2005/schedule-2/paragraph-18",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2005/schedule-2/paragraph-18.json",
  "legislation": "ukpga/2005/22",
  "legislation_title": "Finance (No. 2) Act 2005",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2005",
  "path": "schedule/2/paragraph/18",
  "kind": "paragraph",
  "number": "18",
  "heading": null,
  "text": "(1) Section 447 (charge on other chargeable benefits from securities) is amended as follows.\n(2) In subsection (1), for “by virtue of the ownership of employment-related securities by that person or another associated person” substitute “ in connection with employment-related securities ”.\n(3) For subsection (4) substitute—\n“(4) If the benefit is otherwise chargeable to income tax this section does not apply unless something has been done which affects the employment-related securities as part of a scheme or arrangement the main purpose (or one of the main purposes) of which is the avoidance of tax or national insurance contributions.”\n(4) Sub-paragraph (2) has effect on and after 2nd December 2004 and sub-paragraph (3) has effect where something such as is mentioned in section 447(4) of ITEPA 2003 has been done on or after that date.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/22/schedule/2/paragraph/18",
    "retrieved_at": "2026-10-29T09:15:33.617545+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."
}