Schedules
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Income Tax (Earnings and Pensions) Act 2003
399
1
Amend Schedule 5 (enterprise management incentives) as follows.
2
In paragraph 10(3) for “section 416(2) to (6) of ICTA” substitute “
sections 450 and 451 of CTA 2010
”
.
3
In paragraph 11A for sub-paragraph (3) substitute—
3
In sub-paragraph (2) “property deriving its value from land” has the meaning given by section 188(3) of ITA 2007.
4
In paragraph 23—
a
in sub-paragraph (4)(c)—
i
for “section 344(2) of ICTA (company reconstructions: supplemental)” substitute “
section 942 of CTA 2010 (options for purposes of ownership condition)
”
, and
ii
for the words from “section 343” to the end substitute “
section 941 of that Act (trade transfers without change of ownership: ownership condition)
”
,
b
in sub-paragraph (6) for “section 416(2) to (6) of ICTA” substitute “
sections 450 and 451 of CTA 2010
”
,
c
in sub-paragraph (8) in the definition of “associate”—
i
for “in section 417(3) and (4) of ICTA” substitute “
by section 448 of CTA 2010
”
, and
ii
for “those subsections as they apply” substitute “
that section as it applies
”
, and
d
in sub-paragraph (8) in the definition of “director” for “section 417(5) of ICTA” substitute “
section 452 of CTA 2010
”
.
5
In paragraph 29(4)—
a
in the definition of “close company”—
i
for “section 414(1)(a) of ICTA” substitute “
section 442(a) of CTA 2010
”
,
ii
for “section 415 of ICTA” substitute “
sections 446 and 447 of CTA 2010
”
, and
b
in the definition of “participator” for “section 417(1) of ICTA” substitute “
section 454 of CTA 2010
”
.
6
In paragraph 59 in the entry for “tax”, in the second column, for “section 832(3) of ICTA (as applied by section 989 of ITA 2007)” substitute “
section 989 of ITA 2007
”
.