Draft legislation (accessible version)
Updated 23 November 2023
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Enterprise management incentives: notifications
(1) Part 7 of Schedule 5 to ITEPA 2003 (enterprise management incentives: notification of options) is amended as follows:
(2) In paragraph 44(1) (time within which notice of options must be given to HMRC) for 鈥渨ithin 92 days after the date of the grant of option鈥� substitute 鈥渙n or before 6 July following the end of the tax year in which the option was granted鈥�.
(3) In paragraph 46(5) (time for giving of notices of enquiry) 鈥�
a) for 鈥渆nd of the period of 92 days鈥� substitute 鈥渄ate鈥�;
b) for 鈥減eriod within鈥� substitute 鈥渄ate by鈥�.
(4) The amendments made by this section have effect in relation to share options (within the meaning of the EMI code (see paragraph 59 of Schedule 5 to ITEPA 2003)) granted on or after 6 April 2024.