Part 12Other relief for employee share acquisitions
Chapter 2Relief if shares acquired by employee or other person
Requirements to be met for relief to be available
1007Basic requirements for relief under Chapter 2
1
Relief under this Chapter is available to a company (“the employing company”) if—
a
a person (“the employee”) has employment with the employing company,
b
that employment (“the relevant employment”) is in relation to a business within subsection (2) (“the qualifying business”),
c
the employee or another person acquires shares because of the relevant employment,
d
the conditions set out in sections 1008 and 1009 are met as mentioned in those sections, and
e
relief under Chapter 3 is not available to the employing company in relation to the acquisition of the shares.
The person who acquires the shares is, in that capacity, called “the recipient”.
2
A business is within this subsection so far as—
a
the business is carried on by the employing company, and
b
the employing company is within the charge to corporation tax in relation to the profits of the business.