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Income Tax (Earnings and Pensions) Act 2003

Section 418: Other provisions about share-related income and exemptions

1822.This section, which is another drafting addition, sets out where other provisions dealing with share related income and exemptions may be found.

1823.Subsections (1) and (2) list other provisions of this Act that deal with share-related income and exemptions.

1824.Subsection (3) deals with approved profit sharing schemes (“APS schemes”). This subsection explains that, in view of the phasing out of these schemes, the legislation relating to APS schemes has not been rewritten in this Act. That legislation will accordingly continue to apply while APS schemes continue.

1825.Subsection (4) preserves the effect of sections 138 to 140 of ICTA where shares or interests in shares were acquired before 26 October 1987.

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