Part 7Employment income: share-related income and exemptions
Chapter 4Post-acquisition benefits from shares
Supplementary provisions
465Duty to notify acquisitions of shares or interests in shares
(1)
This section applies where a person acquires shares or an interest in shares as mentioned in section 447(1).
(2)
The cases where it applies accordingly include the case where an employee is treated as acquiring shares, or an interest in them, by virtue of section 461 or 462.
(3)
Each of the following—
(a)
the employer company, and
(b)
if different, the company whose shares they are,
must provide the Inland Revenue with particulars in writing of the acquisition.
(4)
The particulars must be provided before 7th July in the tax year following that in which the acquisition is made.
(5)
However, no particulars of any acquisition need be provided by a company under this section if the company has already given particulars of it under—
section 432 (conditional interest in shares), or
section 486 (shares allotted or transferred on exercise of share option).