Paragraph 1 F1

United Kingdom

(1)

The provisions of this Part of this Schedule apply for capital gains tax purposes in relation to F2a Schedule 2 share incentive plan (“the plan”).

(2)

This Part of this Schedule forms part of the SIP code (see section 488 of ITEPA 2003 ( F3... share incentive plans)).

(3)

Accordingly, expressions used in this Part of this Schedule and contained in the index at the end of Schedule 2 to that Act ( ... share incentive plans) have the meaning indicated by the index.

(4)

In particular, for the purposes of paragraphs 5 and 7 of this Schedule “market value” has the meaning given by paragraph 92 of Schedule 2 to that Act (determination of market value); and Part 8 of this Act has effect subject to this paragraph.

Annotations

Textual amendments

F1: Sch. 7D inserted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 221 (with Sch. 7)
F2: Words in Sch. 7D para. 1(1) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 42(2), 89 (with Sch. 8 paras. 90-96)
F3: Word in Sch. 7D para. 1(2)(3) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 42(3), 89 (with Sch. 8 paras. 90-96)

Notes on Schedule 7D

Textual amendments

F2: Word in Sch. 7D heading omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 40, 89 (with Sch. 8 paras. 90-96)

Notes on Part 1

Textual amendments

F2: Words in Sch. 7D Pt. 1 heading substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 41, 89 (with Sch. 8 paras. 90-96)

Modifications

C1: Sch. 7D Pt. 1 applied (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 2 para. 87 (with Sch. 7)