Part 12Other relief for employee share acquisitions

Chapter 5Additional relief in cases involving convertible securities

1033Relief available on occurrence of chargeable event

1

This section applies in relation to relief available as a result of the occurrence of a chargeable event.

2

The relief is given for the accounting period in which the chargeable event occurs.

3

The amount of relief is equal to the amount that counts as employment income of the employee under section 438 of ITEPA 2003 in relation to the chargeable event.

4

For the purposes of subsection (3) the following are to be ignored—

a

any relief under section 442A of ITEPA 2003, and

b

sections 446G and 446H of ITEPA 2003.

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