Statutory Instruments
2012 No. 1360
Income Tax
The Income Tax (Limits for Enterprise Management Incentives) Order 2012
Made
22nd May 2012
Laid before the House of Commons
23rd May 2012
Coming into force
16th June 2012
The Treasury make the following Order in exercise of the powers conferred upon them by paragraph 54(1)(b)(i) and (2) of Schedule 5 to the Income Tax (Earnings and Pensions) Act 2003( 1 ).
Citation and commencement
1. This Order may be cited as the Income Tax (Limits for Enterprise Management Incentives) Order 2012 and comes into force on 16 June 2012.
Increase in the limits for enterprise management incentives
2. —(1) The EMI code( 2 ) in the Income Tax (Earnings and Pensions) Act 2003 is amended as follows.
(2) In—
(a) paragraph 5(1)(a) of Schedule 5,
(b) paragraph 6(1) and (3) of that Schedule,
(c) section 536(1)(e),
for “£120,000” substitute “£250,000”.
James Duddridge
Jeremy Wright
Two of the Lords Commissioners for Her Majesty’s Treasury
22nd May 2012
“The EMI code” is defined in section 527(3) of the Income Tax (Earnings and Pensions) Act 2003. The amounts specified in each of the provisions mentioned in regulation 2(2) were last substituted by S.I. 2008/706 .