Explanatory Notes

Corporation Tax Act 2009

2009 CHAPTER 4

26 March 2009

Commentary on Sections

Part 12: Other relief for employee share acquisitions

Overview

Chapter 4: Additional relief in cases involving restricted shares
Overview
Section 1026: Relief available on occurrence of chargeable event

2665.This section gives the relief available if there is a chargeable event as defined in section 427(3) of ITEPA. It is based on paragraphs 21 and 22 of Schedule 23 to FA 2003.

2666.Various reliefs are available in calculating the amount that counts as employment income but these reliefs are not deducted from the relief given to the company (see subsection (4)).