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Income Tax (Earnings and Pensions) Act 2003
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515Tax advantages and charges under other ActsU.K.
This section has no associated Explanatory Notes
(1)The following [F1provision of ICTA relates] to SIPs—
F2(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)Schedule 4AA (which makes provision about deductions allowed in calculating trade profits for corporation tax purposes in respect of certain of a company’s expenses relating to—
(i)providing shares for the purposes of an approved SIP, or
(ii)the establishment or operation of the plan).
(2)SIPs are also dealt with in—
(a)Part 1 of Schedule 7D to TCGA 1992 (which provides for relief from capital gains tax for the trustees and for participants in relation to an approved SIP in certain circumstances, including where shares cease to be subject to the plan), F4...
(b)section 95 of FA 2001 (which contains relief from stamp duty and stamp duty reserve tax for transfers of partnership or dividend shares) [F5, F6...
(c)sections 392 to 395 and 405 to 408 of ITTOIA 2005 (SIPs: special rules for charges under Chapters 3 and 4 of Part 4 of that Act (dividends etc. from UK or non-UK resident companies etc.)) and section 770 of that Act (exemption for amounts applied by SIP trustees acquiring dividend shares or retained for reinvestment)][F7, and
(d)Chapter 5 of Part 9 of ITA 2007 (which provides for section 479 of that Act not to apply to income of the trustees of an approved SIP in certain circumstances)]
F8(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 515(1) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 439(2)(a) (with Sch. 2)
F2S. 515(1)(a) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 604(2), Sch. 3 (with Sch. 2)
F3S. 515(1)(b) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 439(2)(b), Sch. 3 Pt. 1 (with Sch. 2)
F4Word in s. 515(2)(a) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 604(3), Sch. 3 (with Sch. 2)
F5S. 515(2)(c) and word inserted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 604(4) (with Sch. 2)
F6Word in s. 515(2)(b) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 439(3)(a), Sch. 3 Pt. 1 (with Sch. 2)
F7S. 515(2)(d) and word inserted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 439(3)(b) (with Sch. 2)
F8S. 515(3) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 439(4), Sch. 3 Pt. 1 (with Sch. 2)
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