# Income Tax (Earnings and Pensions) Act 2003, Paragraph 113


(1) Amend Schedule 10 (further provisions relating to profit sharing schemes) as follows.
(2) In paragraphs 3(1) and 6(4) for “charging an individual to income tax under Schedule E” substitute “ under which an amount counts as employment income of an individual ”.
(3) In paragraph 7—
(a) in sub-paragraph (1), for “a participant in the scheme is chargeable to income tax under Schedule E” substitute “ an amount counts as employment income of the participant ”,
(b) in sub-paragraph (6), for the words from “section 203” to “Schedule E” substitute “ section 684 of ITEPA 2003 (PAYE regulations) and PAYE regulations as PAYE income payable to the recipient ”, and
(c) in sub-paragraph (7)(b)—
(i) omit second “to”, and
(ii) for “the participant is chargeable” substitute “ is charged on the participant ”.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/6/paragraph/113 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-6/paragraph-113
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.