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Income Tax (Earnings and Pensions) Act 2003

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This is the original version (as it was originally enacted).

198Shares to which this Chapter applies

This section has no associated Explanatory Notes

(1)This Chapter applies to shares in a company which have, or an interest in shares in a company which has, been acquired by an employee or a person connected with an employee, if the right or opportunity to acquire the shares or interest in shares was available by reason of the employment.

(2)In this Chapter, “employment-related shares” means shares, or an interest in shares, acquired as mentioned in subsection (1).

(3)The shares may be in the employer, or in another company.

(4)A right or opportunity to acquire shares or an interest in shares which is made available by the employer is to be regarded as made available by reason of the employment unless—

(a)the employer is an individual, and

(b)the right or opportunity is made available in the normal course of the employer’s domestic, family or personal relationships.

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