# Income Tax Act 2007, Paragraph 62


(1) In relation to shares issued before 6 April 2006—
(a) subsection (1) of section 266 applies with the substitution of “3 years” for “5 years”, and
(b) subsection (4) of that section applies with the omission of “30% of” and the insertion at the end of “multiplied by the higher rate for the tax year in which the shares were issued”.
(2) In relation to shares issued before 6 April 2004, section 266(4) applies with the substitution of “the savings rate” for “the higher rate”.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/schedule/2/paragraph/62 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/schedule-2/paragraph-62
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.