Income Tax (Earnings and Pensions) Act 2003(c. 1) - Explanatory Notes

Explanatory Notes

Income Tax (Earnings and Pensions) Act 2003

2003 CHAPTER 1

6th March 2003

Commentary on Sections

Example 3

Ne = £5,000; Da = 183; De = 183; Smg = 0

Part 7: Employment income: share-related income and exemptions

Arrangement of material for share schemes

Chapter 2: Conditional interests in shares

Overview

Section 429: Amount or value of consideration given for employee’s interest

1858. This section derives from section 140B(1) to (6) of ICTA. Section 140B(7) has been taken to a separate section. This section determines, for the purposes of section 428, the amount allowable as the cost of the shares.