‘Part 3A

Part of Finance Bill – in a Public Bill Committee am 10:15 am ar 11 Mehefin 2013.

Danfonwch hysbysiad imi am ddadleuon fel hyn

326B Advice relating to proposed employee shareholder agreements

(1) No liability to income tax arises by virtue of—

(a) the provision of relevant advice by a relevant independent adviser, or

(b) the payment or reimbursement, in accordance with section 205A(7) of the Employment Rights Act 1996, of any reasonable costs incurred in obtaining relevant advice.

(2) “Relevant advice” means—

(a) advice, other than tax advice, which is provided for the purposes of section 205A(6)(a) of that Act (advice as to terms and effect of employee shareholder agreement), and

(b) tax advice which is so provided and consists only of an explanation of the tax effects of employee shareholder agreements generally.

(4) In this section—

“employee shareholder agreement” means an agreement by virtue of which an employee is an employee shareholder (see section 205A(1)(a) to (d) of that Act);

“relevant independent adviser” has the meaning that it has for the purposes of section 203(3)(c) of that Act.”’.—(Mr Gauke.)