Finance Act 1993
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
104 Calculation of consideration.
After section 149 of the Taxation of Chargeable Gains Act 1992 there shall be inserted the following section— Approved share option schemes. 149A (1) This section applies where— (a) an option is granted on or after 16th March 1993, (b) the option consists of a right to acquire shares in a body corporate and is obtained as mentioned in section 185(1) of the Taxes Act (approved share option schemes), and (c) section 17(1) would (apart from this section) apply for the purposes of calculating the consideration for the grant of the option. (2) The grantor of the option shall be treated for the purposes of this Act as if section 17(1) did not apply for the purposes of calculating the consideration and, accordingly, as if the amount or value of the consideration was its actual amount or value. (3) Where the option is granted wholly or partly in recognition of services or past services in any office or employment, the value of those services shall not be taken into account in calculating the actual amount or value of the consideration. (4) The preceding provisions of this section shall not affect the treatment for the purposes of this Act of the person to whom the option is granted.
104 Calculation of consideration.
After section 149 of the Taxation of Chargeable Gains Act 1992 there shall be inserted the following section— Approved share option schemes. 149A (1) This section applies where— (a) an option is granted on or after 16th March 1993, (b) the option consists of a right to acquire shares in a body corporate and is obtained as mentioned in section 185(1) of the Taxes Act (approved share option schemes), and (c) section 17(1) would (apart from this section) apply for the purposes of calculating the consideration for the grant of the option. (2) The grantor of the option shall be treated for the purposes of this Act as if section 17(1) did not apply for the purposes of calculating the consideration and, accordingly, as if the amount or value of the consideration was its actual amount or value. (3) Where the option is granted wholly or partly in recognition of services or past services in any office or employment, the value of those services shall not be taken into account in calculating the actual amount or value of the consideration. (4) The preceding provisions of this section shall not affect the treatment for the purposes of this Act of the person to whom the option is granted.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.