Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 490: No charge on award or acquisition of shares: general
2021.This section is the first of four that deal with the tax advantages connected with the award of shares. It contains the basic proposition that the employee is not liable to income tax on the value of the beneficial interest in the plan shares that passes to the employee at the time those shares are acquired.
2022.This section derives from paragraph 78(1) of Schedule 8 to FA 2000, a sub-paragraph that has now been divided into two subsections.