Paragraph 6

United Kingdom

(1)

This paragraph applies if any of a participant’s plan shares are forfeited.

(2)

The shares are treated for the purposes of this Schedule as acquired by the trustees—

(a)

when the forfeiture occurs, and

(b)

for no consideration.

(3)

No deduction is allowed under paragraph 2 or 3 (deductions for providing free or matching shares or for additional expenses in providing partnership shares) in respect of any subsequent award of those shares under the plan.

Notes on Schedule 4AA

Textual amendments

F1: Sch. 4AA repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 279, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
F2: Sch. 4AA inserted (6.4.2003 with effect in accordance with s. 723(1) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 109 (with Sch. 7)