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 ”.