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Income Tax (Earnings and Pensions) Act 2003

Section 427: Charge on interest in shares ceasing to be only conditional or on disposal

1853.Subsections (1) to (3) derive from section 140A(4) of ICTA which imposes a tax charge when the risk of forfeiture is lifted or on the earlier disposal of the shares.

1854.Subsection (4) is new and acts as a signpost to a provision removing the charge for shares awarded under an approved SIP.

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