C1Part 7F1Employment income: income and exemptions relating to securities
Annotations:
Amendments (Textual)
Modifications etc. (not altering text)
C1
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
Chapter 9Enterprise management incentives
Tax advantages: exercise of option
530No charge on exercise of option to acquire shares at market value
1
This section applies if the option is to acquire shares at not less than their market value—
a
at the time when the option is granted, or
b
if it is a replacement option, at the time when the original option was granted.
2
If this section applies, no liability to income tax arises by virtue of section 476 (charge on exercise etc. of option by employee) in respect of the exercise of the option.
3
This section has effect subject to section 532 (modified tax consequences following disqualifying events).
Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)