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Paragraph 16

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Amend section 138 (share acquisitions by directors and employees) as follows.

(2)

In subsection (1)(b) for “Schedule E” substitute “ the employment income Parts of ITEPA 2003 ”.

(3)

In subsection (4)(b) for “Case I of Schedule E” substitute “ section 15 or 21 of ITEPA 2003 (earnings of employee resident and ordinarily resident in the UK) ”.