Finance Act 2003 (c. 14)

SCHEDULES

SCHEDULE 23 U.K. Corporation tax relief for employee share acquisition

Part 1 U.K. General provisions

Business must be within the charge to corporation tax U.K.

3 (1) The business for the purposes of which the award or grant is made must— U.K.

(a) be carried on by the employing company, and

(b) be within the charge to corporation tax.

(2) A business is within the charge to corporation tax if, or to the extent that, it is carried on by a company that is within the charge to corporation tax in respect of the profits of the business.