Income Tax (Earnings and Pensions) Act 2003 section 509

Modification of section 696 where charge on shares ceasing to be subject to plan

Section 509 deals with how PAYE applies when shares leave a Schedule 2 Share Incentive Plan (SIP) and those shares are readily convertible assets, requiring the employer to operate PAYE on the estimated employment income arising.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.