Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 427: Charge on interest in shares ceasing to be only conditional or on disposal
1853.Subsections (1) to (3) derive from section 140A(4) of ICTA which imposes a tax charge when the risk of forfeiture is lifted or on the earlier disposal of the shares.
1854.Subsection (4) is new and acts as a signpost to a provision removing the charge for shares awarded under an approved SIP.