Income Tax (Earnings and Pensions) Act 2003 (c. 1)

SCHEDULES

SCHEDULE 7 U.K. Transitionals and savings

Part 7 U.K. Employment income: [F1 income related to securities]

Textual Amendments

F1 Words in Sch. 7 Pt. 7 heading substituted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 46(4)

Approved SAYE option schemes U.K.

72 (1) Any reference in the SAYE code to a share option granted in accordance with the provisions of an approved SAYE option scheme is to be read as including, in relation to times before 6th April 2003, a reference to a right to acquire shares obtained in accordance with the provisions of a savings-related share option scheme approved under Schedule 9 to ICTA. U.K.

(2) Any reference in a scheme within paragraph 71(1) to a person chargeable to tax under Case I of Schedule E is to be read as including, in relation to times after 5th April 2003, a reference to a person whose earnings fall within paragraph 6(2)(c) of Schedule 3 to this Act.

(3) This paragraph—

(a) is without prejudice to Part 1 of this Schedule, and

(b) applies only in so far as the context permits.

(4) In this paragraph “savings-related share option scheme” has the same meaning as in paragraph 71.