SCHEDULES
SCHEDULE 5Enterprise management incentives
Part 4Eligible employees
Meaning of “working time”
C127
1
In paragraph 26 “working time” means—
a
time spent on remunerative work as an employee or self-employed person, or
b
time which would have been so spent but for any of the reasons set out in paragraph 26(3)(a) to (d).
2
In sub-paragraph (1)(a) “remunerative work”, in the context of work undertaken as an employee, means work the earnings from which—
a
are general earnings to which section 15 F3applies (earnings for year when employee UK resident), or
b
would be general earnings within paragraph (a) if the employee were F2UK resident (and none of sections 809B, 809D and 809E of ITA 2007 (remittance basis) applied to the employee).
3
In sub-paragraph (1)(a) “remunerative work”, in the context of work undertaken as a self-employed person, means work which is undertaken with a view to profit and the profits (if any) from which—
a
are (or would be) chargeable to tax F1as the profits of a trade, profession or vocation carried on wholly or partly in the United Kingdom, or
b
would be so chargeable if the employee were resident F4... in the United Kingdom.