SCHEDULES
SCHEDULE 8Employee share schemes
PART 3CSOP schemes
178Amendments to Chapter 8 of Part 7 of ITEPA 2003
1
Paragraph 27 (requirements about share options granted in exchange) is amended as follows.
2
In sub-paragraph (4)—
a
in paragraph (c) for “equal” substitute “be substantially the same as”, and
b
in paragraph (d) for “equal to” substitute “substantially the same as”.
3
After sub-paragraph (7) insert—
8
For the purposes of this paragraph the market value of any shares is to be determined using a methodology agreed by Her Majesty’s Revenue and Customs.