- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)This Chapter applies if—
(a)relief (“the original relief”) is available under Chapter 2 or 3 in relation to an acquisition of restricted shares, and
(b)after the acquisition—
(i)an event that is a chargeable event in relation to the restricted shares for the purposes of section 426 of ITEPA 2003 occurs, or
(ii)Chapter 2 of Part 7 of ITEPA 2003 ceases to apply to the restricted shares because the employee dies (see section 421B(4) and (6) of that Act).
For the purposes of paragraph (a) it does not matter if the amount of relief is calculated as nil.
(2)Relief under this Chapter is available to the employing company.
(3)Subsection (4) applies if section 426 of ITEPA 2003—
(a)does not apply in relation to the restricted shares, but
(b)would apply if at all material times the employee had been a UK employee.
(4)This Chapter applies as if the employee had been a UK employee as mentioned in subsection (3)(b).
(5)The employee is a UK employee if—
(a)the employee is UK resident and ordinarily UK resident, and
(b)the duties of the relevant employment are performed in the United Kingdom.
(6)If—
(a)the original relief is available as a result of section 1015(3) (death of recipient), and
(b)the recipient is not the employee,
this Chapter applies as if the recipient were alive and the restricted shares were acquired by the recipient.
(7)If the original relief is available as a result of section 1022 (takeover of company whose shares are subject to an option), this Chapter applies as if the restricted shares were acquired pursuant to the qualifying option mentioned in that section.
(8)To find out what accounting period the relief is given for and how to calculate the amount of relief, see—
(a)section 1026 for relief available as a result of the occurrence of a chargeable event, and
(b)section 1027 for relief available as a result of the employee’s death.
Those sections are supplemented by section 1028.
(9)Section 1029 provides for the relief to be given to a successor company if the qualifying business is transferred by group transfers.
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