ETASSUM28100 | Schedule 2 share incentive plan (SIP): Supplementary and defined terms: Introduction

Part 11 of Schedule 2 defines a number of specific concepts arising in the SIP code (paragraph 99) and contains an index of defined expressions (paragraph 100). Part 11 of Schedule 2 also includes the information powers which enable HMRC to obtain information that may be necessary in order to determine a liability to tax of any person participating in a SIP or any other person where the operation of the SIP is relevant to their tax liability (refer to ETASSUM27110). In addition Part 11 of Schedule 2 also covers the following:

• Company reconstructions and the consequences (ETASSUM25100 – ETASSUM25130),

• Treatment of shares acquired under a rights issue (ETASSUM25140 – ETASSUM25160),

• Termination of the plan and the effects of a termination notice (ETASSUM27180),

• Jointly owned companies (ETASSUM28110),

• Determination of Market Value (ETASSUM28170),

• Meaning of “associated company” (ETASSUM28120),

• Meaning of “ceasing to be in relevant employment” (ETASSUM28130), and

• Meaning of “shares being withdrawn from the plan” & “shares ceasing to be subject to the plan” (ETASSUM28150).