65(1)This paragraph relates to the operation of section [F1478 in relation to an event that is a chargeable event by virtue of section 477(3)(a) or (b) (acquisition of securities pursuant to an option and assignment and release of option) in the case of a share option acquired] before 6th April 2003.U.K.
(2)For the purposes of section [F2478(1)], if an amount was chargeable to tax under section 185(6) of ICTA (charge where option under approved share option scheme granted at a discount) in respect of the share option, so much of that amount as is attributable to the shares in question is a deductible [F2amount].
Textual Amendments
F1Words in Sch. 7 para. 65(1) substituted (1.9.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 46(23)(a)(26)(c); S.I. 2003/1997, art. 2
F2Word in Sch. 7 para. 65(2) substituted (1.9.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 46(23)(b)(26)(c); S.I. 2003/1997, art. 2