Article 2 Increase in limits for enterprise management incentives

(1)

The EMI code in the Income Tax (Earnings and Pensions) Act 2003^f1 is amended as follows.

(2)

For the sums specified in—

(a)

paragraph 5(1)(a) of Schedule 5;

(b)

paragraph 6(1) and (3) of that Schedule, and

(c)

section 536(1)(e),

the sum of £120,000 is substituted.

Annotations

f1: “The EMI code” is defined in section 527(3) of the Income Tax (Earnings and Pensions) Act 2003.