Schedule 7C | [ Relief For Transfers To [Schedule 2] Share Plans] | Taxation Of Chargeable Gains Act 1992 C12

[SCHEDULE 7C Relief for Transfers to [Schedule 2] Share Plans]

Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[SCHEDULE 7C Relief for Transfers to [Schedule 2]

[Section 236A]

[Introductory

(1) A person (“the claimant”) who makes a disposal of shares (“the disposal”) to the trustees of the plan trust of [a share incentive] plan (“the plan”) is entitled to claim relief under paragraph 5 if—

(a) the conditions in paragraph 2 are fulfilled, and

(b) paragraph 3(1) or (2) applies.

(2) Sub-paragraph (1) does not apply to a company that makes a disposal of shares.

(3) In this paragraph the references to a disposal of shares include a disposal of an interest in shares.

Conditions relating to the disposal

(1) The first condition is that, at the time of the disposal, the plan is [a Schedule 2 SIP] under [Schedule 2 to ITEPA 2003].

(2) The second condition is that the relevant shares meet the requirements in [Part 4] of that Schedule (types of shares that may be [awarded]) in relation to the plan.

For this purpose that Part applies as if paragraph [27(1)(a) and (c) and (2)] (listed shares and shares in a company under the control of a company whose shares are listed) were omitted.

(3) The third