Section 1026 — Corporation Tax Act 2009: Relief available on occurrence of chargeable event

Relief available on occurrence of chargeable event 1026 1 This section applies in relation to relief available as a result of the occurrence of a chargeable event.

2 The relief is given for the accounting period in which the chargeable event occurs.

3 The amount of relief is equal to the amount that counts as employment income of the employee under section 426 of ITEPA 2003 in relation to the chargeable event.

4 For the purposes of subsection (3) the following are to be ignored—

a any relief under section 428A of ITEPA 2003, b section 446E(6) of ITEPA 2003, and c the amount of any non-commercial increase (as defined in section 446K(4) of ITEPA 2003) in the market value of the restricted shares after their acquisition. 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .