Paragraph 35

United Kingdom

(1)

The plan must provide that the initial market value of the free shares awarded to a participant in a tax year is not to exceed F1£3,600 .

(2)

The “initial market value” of shares means their market value on the date on which they are awarded.

F2(2A)

The Treasury may by order amend sub-paragraph (1) by substituting for any amount for the time being specified there an amount specified in the order.

F3(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

F1: Word in Sch. 2 para. 35(1) substituted (6.4.2014) by Finance Act 2014 (c. 26), s. 49(2)(4)
F2: Sch. 2 para. 35(2A) inserted (17.7.2014) by Finance Act 2014 (c. 26), s. 50(2)
F3: Sch. 2 para. 35(3)(4) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 2 para. 49

F1: Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)