Post-acquisition benefits from shares
This section has no associated Explanatory Notes
59(1)This paragraph relates to the operation of section 455 (amount of charge on increase in value of shares) in relation to an acquisition made before 6th April 2003.
(2)If before that date an event occurred by virtue of which the employee became chargeable to tax under—
(a)section 140A(4) of ICTA (employee’s interest in shares ceasing to be only conditional), or
(b)section 140D(3) of ICTA (charge on conversion of convertible shares),
on any amount in respect of the shares, that amount is a “deductible amount” for the purposes of section 455(1).