xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
1(1)This Schedule provides for corporation tax relief for a company where a person—U.K.
(a)acquires shares by reason of his, or another person's, employment with that company (an “ ”: see Part 2 of this Schedule), or
(b)obtains by reason of his, or another person's, employment with that company an option to acquire shares and acquires shares [F1pursuant to] that option (the “grant of an option”: see Part 3 of this Schedule).
[F2(2)Part 4 of this Schedule makes further provision for cases where the shares acquired are restricted shares.
(2A)Part 4A of this Schedule makes further provision for cases where the shares acquired are convertible shares.]
(3)In this Schedule—
“the employing company” means the company mentioned in sub-paragraph (1);
“the recipient” means the person acquiring the shares or obtaining the option; and
“the employee” means the person by reason of whose employment the shares are acquired or the option is granted.
Textual Amendments
F1Words in Sch. 23 para. 1(1)(b) substituted (1.9.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 60(2)(4); S.I. 2003/1997, art. 2
F2Sch. 23 para. 1(2)(2A) substituted for Sch. 23 para. 1(2) (1.9.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 60(3)(5); S.I. 2003/1997, art. 2