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HMRC internal manual

Employment Income Manual

PAYE: employment-related securities: restricted securities: conditional shares acquired before 16 April 2003

Section 698 ITEPA 2003

Section 698 was fundamentally amended by Schedule 22 FA 2003 with effect from 1 September 2003. However the original legislation at Section 698 remains effective in respect of any event giving rise to income chargeable to tax as employment income relating to conditional shares acquired by an employee before 16 April 2003 (see EIM11865).