Section 1017 — Corporation Tax Act 2009: Condition relating to employee's income tax position

Condition relating to employee's income tax position 1017 1 The following condition must be met in relation to the income tax position of the employee. The Condition The acquisition of the shares is a chargeable event in relation to the employee for the purposes of section 476 of ITEPA 2003 (whether or not an amount counts as employment income of the employee because of that event). 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 If the employee is dead when the shares are acquired, the condition is to be treated as met if it would have been met had the employee been alive.