- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
7In paragraph 45 (income tax charge on exercise of option to acquire shares at less than market value), for sub-paragraphs (2) to (4) substitute—
“(2)In that case for the purposes of section 135 of the Taxes Act 1988 (taxation of share options) the amount of the gain realised by the exercise of the option is taken to be the amount by which—
(a)the chargeable market value, exceeds
(b)the aggregate of—
(i)the amount or value of the consideration given for the grant of the option, and
(ii)the amount for which the shares are acquired.
(3)For the purposes of this paragraph “the chargeable market value” means—
(a)the market value of the shares—
(i)at the time the option was granted, or
(ii)if it is a replacement value, at the time the original option was granted,
or
(b)if lower, the market value of the shares at the time the option is exercised.
(4)If the chargeable market value does not exceed the aggregate of the amounts mentioned in sub-paragraph (2)(b)(i) and (ii), no amount is chargeable to income tax under section 135 of the Taxes Act 1988 (taxation of share options) in respect of the exercise of the option.”
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