[239ZA Relief for disposals by trustees of employee trusts]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[239ZA  Relief for disposals by trustees of employee trusts]

[(1)     Any gain accruing to trustees on the disposal of an asset comprised in the settled property of an employee trust shall not be a chargeable gain where the disposal is—

(a)     a disposal to a beneficiary, or

(b)     a deemed disposal under section 71(1),

if the conditions in subsection (2) are satisfied.

(2)     The conditions are that—

(a)     an amount that is equal to or exceeds the market value of the asset is chargeable to income tax as employment income within the meaning of section 7 of ITEPA 2003 (meaning of “employment income” etc);

(b)     neither the beneficiary nor (if different) the person who is liable

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