Part IIIncome Tax, Corporation Tax and Capital Gains Tax

Chapter IGeneral

Profit-related pay, share schemes etc.

62Savings-related share option schemes

1

Part III of Schedule 9 to the Taxes Act 1988 (requirements applicable to savings-related share option schemes) shall be amended as follows.

2

In paragraph 24(2)(a) (scheme not to permit monthly amount of contributions linked to schemes to exceed £100), for “£100” there shall be substituted “£150”.

3

In paragraph 25(b) (requirement that price at which share may be acquired under scheme be not less than 90 per cent. of market value), for the words “90 per cent.” there shall be substituted the words “80 per cent.”.

4

Subsection (2) above shall come into force on such day as the Treasury may by order made by statutory instrument appoint.