Explanatory Notes

Income Tax (Earnings and Pensions) Act 2003

2003 CHAPTER 1

6th March 2003

Commentary on Sections

Omitted material

Schedule 2: Approved Share Incentive Plans

Overview

Part 6: Partnership shares
Paragraph 47: Minimum amount of deductions

3096.This paragraph specifies the minimum amount of partnership share money that may be deducted. The paragraph derives from paragraph 37 of Schedule 8.

3097.In sub-paragraph (1), the words “under a partnership share agreement” replace the words “in pursuance of the partnership share agreement”; and in sub-paragraph (3), the words “may be” have been added at the end.