Income Tax (Earnings and Pensions) Act 2003 section 226C

Only one payment deemed to be made under associated agreements

Section 226C dealt with ensuring that only a single deemed payment arose where there were associated employee shareholder agreements, but this section has now been removed from the legislation.

• Section 226C was introduced by Finance Act 2013 as part of the employee shareholder shares regime
• The section was omitted (repealed) by Finance Act 2017, effectively closing the employee shareholder status to new entrants
• The repeal applies to shares acquired under employee shareholder agreements entered into on or after 1 December 2016 (or 2 December 2016 in certain cases)
• The later date of 2 December 2016 applies where the individual received the required independent advice before 1.30 pm on 23 November 2016