Section 421C — Income Tax (Earnings and Pensions) Act 2003: Associated persons

Associated persons 421C 1 For the purposes of this Chapter and Chapters 2 to 4 the following are “ associated persons ” in relation to employment-related securities—

a the person who acquired the employment-related securities on the acquisition, b (if different) the employee, and c any relevant linked person.

2 A person is a relevant linked person if—

a that person (on the one hand),

and b either the person who acquired the employment-related securities on the acquisition or the employee (on the other), are or have been connected or (without being or having been connected) are or have been members of the same household.

3 But a company which would otherwise be a relevant linked person is not if it is—

a the employer, b the person from whom the employment-related securities were acquired, c the person by whom the right or opportunity to acquire the employment-related securities was made available, or d the person by whom the employment-related securities (or the securities in which they are an interest) were issued.