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Income Tax (Earnings and Pensions) Act 2003

Part 9: Supplementary provisions
Paragraph 45: Power to require information

3359.This paragraph derives from paragraph 6 of Schedule 9 to ICTA and gives the Inland Revenue power to obtain information. The words “think necessary” have been replaced with “reasonably require”. See Change 172 in Annex 1.

3360.This provision, as set out in sub-paragraph (2)(a)(ii), also covers liability to capital gains tax.

3361.Sub-paragraph (3) clarifies the operation of the time limit for providing information by making the period run from the date of the notice. Also the period has been extended from 30 days to 3 months. See Change 172 in Annex 1.

Paragraph 46: Jointly owned companies

3362.This paragraph gives statutory effect to ESC B27, so far as it relates to SAYE option schemes. It corresponds to paragraph 34 in Schedule 4 to this Act, for CSOP schemes. See Change 173 in Annex 1.

Paragraph 47: Meaning of “associated company”

3363.This paragraph derives from the definition of associated company in section 187(2) of ICTA.

Paragraph 48: Minor definitions

3364.This paragraph takes definitions from section 187(2) and (7) of ICTA.

Paragraph 49: Index of defined expressions

3365.This paragraph consists of an index of expressions defined or explained for the purposes of the SAYE code.

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Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

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