Corporation Tax Act 2009 section 1002

"Employment"

Section 1002 defines how the term "employment" and related expressions should be interpreted throughout Part 12, which deals with relief for employee share acquisitions.

• The term "employment" is broadly defined to include not only current employment but also former and prospective employment.
• Being employed by a company includes holding an office with that company, extending the scope of the relief provisions to officeholders.
• Where a company's affairs are managed by its members (such as in a member-managed LLP or similar structure), those members are treated as holding an office with the company.
• Special deeming rules apply to certain employees of overseas companies who work for UK-based companies, treating them as employed for the purposes of the share acquisition relief chapters.