Section 490 No charge on award or acquisition of shares: general
(1)
This section applies—
(a)
on the award to an employee of free, matching or partnership shares under the plan, or
(b)
on the acquisition on behalf of an employee of dividend shares under the plan.
(2)
The employee is not liable to income tax on the value of the beneficial interest in the shares that passes to the employee at the time of the award or acquisition.
Notes on Part 7
Textual amendments
- F1
Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)
Modifications
- C1
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
Notes on Chapter 6
Textual amendments
- F1
Word in Pt. 7 Ch. 6 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 2, 89 (with Sch. 8 paras. 90-96)