2012 No. 1360
Income Tax
The Income Tax (Limits for Enterprise Management Incentives) Order 2012
Made
Laid before the House of Commons
Coming into force
The Treasury make the following Order in exercise of the powers conferred upon them by paragraph 54(1)(b)(i) and (2) of Schedule 5 to the Income Tax (Earnings and Pensions) Act 20031.
Citation and commencement1
This Order may be cited as the Income Tax (Limits for Enterprise Management Incentives) Order 2012 and comes into force on 16 June 2012.
Increase in the limits for enterprise management incentives2
1
The EMI code2 in the Income Tax (Earnings and Pensions) Act 2003 is amended as follows.
2
In—
a
paragraph 5(1)(a) of Schedule 5,
b
paragraph 6(1) and (3) of that Schedule,
c
section 536(1)(e),
for “£120,000” substitute “£250,000”.
James DuddridgeJeremy WrightTwo of the Lords Commissioners for Her Majesty’s Treasury
EXPLANATORY NOTE
(This note is not part of the Order)