# Income Tax (Earnings and Pensions) Act 2003, Section 427: Chargeable events


(1) This section applies for the purposes of section 426 (charge on occurrence of chargeable event).
(2) Any of the events mentioned in subsection (3) is a “chargeable event” in relation to the employment-related securities.
(3) The events are—
(a) the employment-related securities ceasing to be restricted securities, or a restricted interest in securities, in circumstances in which an associated person is beneficially entitled to the employment-related securities after the event,
(b) the variation of any restriction relating to the employment-related securities in such circumstances (without the employment-related securities ceasing to be restricted securities or a restricted interest in securities), and
(c) the disposal for consideration of the employment-related securities, or any interest in them, by an associated person otherwise than to another associated person (at a time when they are still restricted securities or a restricted interest in securities).
(4) For the purposes of this Chapter there is a variation of a restriction relating to the employment-related securities if any restriction in relation to them is removed or varied.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/section/427 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-427
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.