Part 7Employment income: income and exemptions relating to securities

F1Chapter 1Introduction

Application of Chapters 2 to 4

421CAssociated persons

(1)

For the purposes of this Chapter and Chapters 2 to 4 the following are “associated persons” in relation to employment-related securities—

(a)

the person who acquired the employment-related securities on the acquisition,

(b)

(if different) the employee, and

(c)

any relevant linked person.

(2)

A person is a relevant linked person if—

(a)

that person (on the one hand), and

(b)

either the person who acquired the employment-related securities on the acquisition or the employee (on the other),

are connected or, although not connected, are members of the same household.

(3)

But a company which would otherwise be a relevant linked person is not if it is—

(a)

the employer,

(b)

the person from whom the employment-related securities were acquired,

(c)

the person by whom the right or opportunity to acquire the employment-related securities was made available, or

(d)

the person by whom the employment-related securities (or the securities in which they are an interest) were issued.