ETASSUM28100 - Schedule 2 share incentive plan (SIP): Supplementary and defined terms: Introduction
Part 11 of Schedule 2 defines a number of specific concepts arising in the SIP code (paragraph 99) and contains an index of defined expressions (paragraph 100). Part 11 of Schedule 2 also includes the information powers which enable HMRC to obtain information that may be necessary in order to determine a liability to tax of any person participating in a SIP or any other person where the operation of the SIP is relevant to their tax liability (refer to ETASSUM27110). In addition Part 11 of Schedule 2 also covers the following:
- Company reconstructions and the consequences (ETASSUM25100 鈥� ETASSUM25130),
- Treatment of shares acquired under a rights issue (ETASSUM25140 鈥� ETASSUM25160),
- Termination of the plan and the effects of a termination notice (ETASSUM27180),
- Jointly owned companies (ETASSUM28110),
- Determination of Market Value (ETASSUM28170),
- Meaning of 鈥渁ssociated company鈥� (ETASSUM28120),
- Meaning of 鈥渃easing to be in relevant employment鈥� (ETASSUM28130), and
- Meaning of 鈥渟hares being withdrawn from the plan鈥� & 鈥渟hares ceasing to be subject to the plan鈥� (ETASSUM28150).