Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 8 U.K. Employee share schemes

PART 4 U.K. Enterprise management incentives

Commencement and transitional provision U.K.

222 U.K. This Part is treated as having come into force on 6 April 2014.

223 U.K. The amendments made by paragraph 217 above have no effect in relation to options granted before 6 April 2014.

224 (1) The amendment made by paragraph 218 above has effect so as to require returns for the tax year 2014-15 and subsequent tax years. U.K.

(2) It has effect in relation to companies whose qualifying option periods begin before 6 April 2014 (as well as those whose qualifying option periods begin on or after that date).

(3) It does not affect the duty of a company to deliver a return for a tax year earlier than the tax year 2014-15 in accordance with paragraph 52 of Schedule 5 to ITEPA 2003 as that paragraph stood before its substitution; and the effect of the amendment made by paragraph 221 above is limited accordingly.

(4) In paragraphs 57B(1) and 57C(1) of Schedule 5 to ITEPA 2003 (as inserted by paragraph 220 above) the reference to a return is to a return under paragraph 52 of that Schedule as substituted.

225 U.K. The amendment made by paragraph 219(3) above does not affect a reasonable excuse which began before 6 April 2014.