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Finance Act 2014

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Employee share schemes

49Share incentive plans: increases in maximum annual awards etc

(1)Schedule 2 to ITEPA 2003 (share incentive plans) is amended as follows.

(2)In paragraph 35(1) (free shares: maximum annual award) for “£3,000” substitute “£3,600”.

(3)In paragraph 46(1) (partnership shares: maximum amount of deductions from employee’s salary) for “£1,500” substitute “£1,800”.

(4)The amendments made by this section are treated as having come into force on 6 April 2014.

50Share incentive plans: power to adjust maximum annual awards etc

(1)Schedule 2 to ITEPA 2003 (share incentive plans) is amended as follows.

(2)In paragraph 35 (free shares: maximum annual award) after sub-paragraph (2) insert—

(2A)The Treasury may by order amend sub-paragraph (1) by substituting for any amount for the time being specified there an amount specified in the order.

(3)In paragraph 46 (partnership shares: maximum amount of deductions from employee’s salary) after sub-paragraph (5) insert—

(6)The Treasury may by order amend sub-paragraph (1) by substituting for any amount for the time being specified there an amount specified in the order.

(4)In paragraph 60 (matching shares: maximum ratio of matching shares to partnership shares) after sub-paragraph (3) insert—

(4)The Treasury may by order amend sub-paragraph (2) by substituting for any ratio for the time being specified there a ratio specified in the order.

51Employee share schemes

Schedule 8 makes provision in relation to employee share schemes.

52Employment-related securities etc

Schedule 9 contains provision relating to employment-related securities.

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