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Income Tax (Earnings and Pensions) Act 2003

Section 196: Effects on other income tax charges

775.This section derives from section 162(11) of ICTA which operates to give priority to any section by virtue of which an acquisition of shares results in an amount being chargeable to tax as emoluments.

776.Paragraph (b) of this section refers to sections 476 and 477 of this Act, which are derived from section 135 of ICTA. This is a minor change to the law. See Change 38 in Annex 1.

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