SCHEDULE 9 Employment-related Securities etc | Part 3 | Corporation Tax Relief For Employee Share Acquisitions | Finance Act 2014 C26

Part 3 Corporation Tax Relief for Employee Share Acquisitions

Finance Act 2014 (2014 c 26) | Legislation

Part 3 Corporation Tax Relief for Employee Share Acquisitions

Part 12 of CTA 2009 (other relief for employee share acquisitions) is amended as follows.

In Chapter 1 (introduction), in section 1002 (“employment”), after subsection (4) insert—

“(5) See also sections 1007A(2), 1015B(2), 1025B(2) and 1030B(2) (deemed employment for the purposes of Chapters 2, 3, 4 and 5 of certain employees of overseas companies who work for companies in the UK).”

In section 1005 (other definitions)—

(a) at the end of the definition of “the employee” insert “(see also sections 1025A(7) and 1030A(8))”, and

(b) in the definition of “the qualifying business”, for “or 1015(1)(b)” substitute “, 1015(1)(b), 1025A(1)(d)(i) or 1030A(1)(d)(ii)”.

In Chapter 2 (corporation tax relief if shares are acquired by employee or other person), after section 1007 insert—

“1007A Application of Chapter in relation to employees of overseas companies who work for companies in the UK

(1) This section applies if—

(a) a person has an employment (“the actual employment”) with a non-UK resident company not within the charge to corporation tax (“the overseas employer”),

(b) in performing any of the duties of the actual employment, the person