Schedule 13 - Employee share ownership plans: amendments
Finance Bill
11:15 am
Amendment proposed, No. 14, in page 146, line 2, at end insert—
`Meaning of ``salary''
.—(1) In paragraph 48 after ``(PAYE)'' insert ``or which would be if that individual were within the scope of Schedule E'', after ``(expenses and benefits in kind)'' add ``or which would have been had the individual been within the scope of Schedule E''. (2) This paragraph shall be deemed to have had effect from the passing of the Finance Act 2000.'.—[Mr. Flight.]
(2) This paragraph shall be deemed to have had effect from the passing of the Finance Act 2000.'.—[Mr. Flight.]
Amendment made to the proposed amendment: leave out sub-paragraph (2) and insert—
`(2) This paragraph has effect in relation to any award of partnership shares (within the meaning of Schedule 8 to the Finance Act 2000) in relation to which the eligibility time falls after the passing of this Act.
(3) For this purpose ``the eligibility time'' means the time at which an individual, in order to participate in the award, is required, in accordance with paragraph 13(1)(b) of that Schedule, to be eligible to so participate.'.—[Mr. Timms.]
Amendment, as amended, agreed to.