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Income Tax (Earnings and Pensions) Act 2003

Section 453: Charge on increase in value of shares of dependent subsidiary

1910.This is the second of the charging provisions and derives from section 79(1) and (4) of FA 1988. Again, matters concerning what is chargeable, the calculation of the amount and the exceptions have been taken to separate sections.

1911.Subsection (3) derives from section 79(4) of FA 1988 and specifies the year of charge.

1912.Subsections (4) and (5) are new. Subsection (5) acts as a signpost to the provisions which remove the charge under various approved schemes.

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