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Where to find the legislation

Since 1966, there have been a number of provisions to deal with employment-related securities, many of which were introduced to combat avoidance of income tax and NICs. »Ê¹ÚÌåÓýapp main provisions were in Finance Acts 1988 and 1998, subsequently consolidated into ICTA1988. In 2003, the Tax Law Rewrite programme rewrote these provisions as the Income Tax Earnings & Pensions Act 2003 (ITEPA). Shortly after this, the tax regime was significantly reformed in Schedule 22 of Finance Act 2003, to provide a fairer, more coherent and consistent regime and deal with further extensive avoidance. As a result, ITEPA was extensively amended to include the FA 2003 changes. Since then ITEPA has been amended in relation to employment-related securities by various subsequent Finance Acts.