SCHEDULES

SCHEDULE 7Remittance basis

Part 1Main provisions

Transitional provision

91

1

This paragraph applies in relation to employment-related securities if—

a

the date of the acquisition is on or after 6 April 2008 and on or before 31 July 2008, and

b

Chapter 2 of Part 7 of ITEPA 2003 (restricted securities) applies in relation to the securities by virtue only of amendments made by this Schedule.

2

Section 431 of ITEPA 2003 (election for full or partial disapplication of Chapter) has effect in relation to the employment-related securities as if in subsection (5)(b) for “more than 14 days after the acquisition” there were substituted “ after 14 August 2008 ”.