Section 1007 — Corporation Tax Act 2009: Basic requirements for relief under Chapter 2

Basic requirements for relief under Chapter 2 1007 1 Relief under this Chapter is available to a company (“the employing company”) if—

a a person (“ the employee ”) has employment with the employing company, b that employment (“ the relevant employment ”) is in relation to a business within subsection (2) (“the qualifying business”),

c the employee or another person acquires shares because of the relevant employment, d the conditions set out in sections 1008 and 1009 are met as mentioned in those sections, and e relief under Chapter 3 is not available to the employing company in relation to the acquisition of the shares. The person who acquires the shares is, in that capacity, called “the recipient”.

2 A business is within this subsection so far as—

a the business is carried on by the employing company, and b the employing company is within the charge to corporation tax in relation to the profits of the business or would be but for section 18A .