Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 8 U.K. Employee share schemes

PART 1 U.K. Share incentive plans

Other amendments: ITEPA 2003 and Part 4 of FA 2004 U.K.

44 U.K. ITEPA 2003 is amended as follows.

45 U.K. In section 227 (scope of Part 4) in subsection (4)(c) omit “approved”.

46 U.K. In section 417 (scope of Part 7) in subsection (2), in the entry for Chapter 6, omit “approved”.

47 (1) Section 431A (provision relating to restricted securities) is amended as follows. U.K.

(2) In the heading for “approved” substitute “ tax advantaged ”.

(3) In subsection (2)(a) for “an approved” substitute “ a Schedule 2 ”.

48 U.K. In section 549 (application of Chapter 11 of Part 7) in subsection (2)(a) omit “approved”.

49 (1) Section 554E (exclusions under Part 7A) is amended as follows. U.K.

(2) In subsections (1)(a) and (3)(a)(i) and (b)(i) for “an approved” substitute “ a Schedule 2 ”.

(3) In subsection (4)(a) and (b) for the first “approved” substitute “ Schedule 2 ”.

50 U.K. In paragraph 11 of Schedule 4 (CSOP schemes: material interest) in sub-paragraph (5)(a) for “approved” substitute “ Schedule 2 ”.

51 U.K. In paragraph 30 of Schedule 5 (enterprise management incentives: material interest) in sub-paragraph (7)(a) for “share incentive plan approved under Schedule 2 (SIPs)” substitute “ Schedule 2 SIP (see Schedule 2) ”.

52 U.K. In section 195 of FA 2004 (pensions: transfer of certain shares to be treated as payment of contribution) in subsection (5), in the definition of “share incentive plan”, omit “approved”.