Corporation Tax Act 2009 (c. 4)

Part 12 U.K. Other relief for employee share acquisitions

Modifications etc. (not altering text)

C1 Pt. 12 applied by 2010 c. 8, s. 425(5) (as inserted (with effect in accordance with Sch. 5 para. 25(1)-(3) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 1 (with Sch. 5 paras. 27, 32-34))

Chapter 5 U.K. Additional relief in cases involving convertible securities

1034 Relief available following death of employee U.K.

(1) This section applies in relation to relief available as a result of the employee's death.

(2) The relief is given for the accounting period in which the relief event occurs.

(3) The amount of relief is equal to the amount that would have counted as employment income of the employee under section 438 of ITEPA 2003 in relation to the relief event had the employee been alive.

(4) For the purposes of subsection (3) sections 446G and 446H of ITEPA 2003 are to be ignored.

F1 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 S. 1034(5) omitted (with effect in accordance with s. 12(5)-(7) of the amending Act) by virtue of Finance Act 2017 (c. 10), s. 12(4)(f)