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Legislation
Income Tax (Earnings and Pensions) Act 2003

Crossheading Charges connected with holding of shares

  • Section 501 Charge on capital receipts in respect of plan shares
  • Section 502 Meaning of “capital receipt” in section 501
  • Section 503 Charge on partnership share money paid over to employee
  • Section 504 Charge on cancellation payments in respect of partnership share agreement
  1. Charges connected with holding of shares
  2. Charge on partnership share money paid over to employee

Section 503 | Charge on partnership share money paid over to employee F1

From legislation.gov.uk

(1)Any amount paid over to an individual under any of the provisions of Schedule 2 mentioned in subsection (2) counts as employment income of the individual for the relevant tax year.

(2)The provisions are—

(3)The “relevant tax year” is the tax year in which the amount is paid over.

Notes

  1. F1

    Words in s. 503(2) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 7, 89 (with Sch. 8 paras. 90-96)

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