Finance Act 2014

Amendments to Chapter 8 of Part 7 of ITEPA 2003

This section has no associated Explanatory Notes

178(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.