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Changes over time for: Paragraph 13


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 26/05/2015.
Changes to legislation:
Taxation of Chargeable Gains Act 1992, Paragraph 13 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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[13(1)This paragraph applies where—U.K.
(a)the individual exercises the option in accordance with the provisions of the CSOP scheme at a time when the scheme is [a Schedule 4 CSOP scheme], and
(b)the condition in section 524(2) of ITEPA 2003 (no charge in respect of exercise of option) is met.
(2)Section 17(1) (disposals and acquisitions treated as made at market value) shall not apply in calculating the consideration for—
(a)the individual’s acquisition of the relevant shares by the exercise of the option, or
(b)any corresponding disposal of the relevant shares to the individual.
(3)Sub-paragraph (2) also applies where the option is exercised at a time when the scheme is [a Schedule 4 CSOP scheme] in accordance with provision included in the scheme by virtue of paragraph 25 of Schedule 4 to ITEPA 2003 (exercise of options: death); and references in that sub-paragraph to the individual are to be read accordingly.]
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