Income Tax Act 2007 (c. 3)

Part 5 U.K. Enterprise investment scheme

Chapter 6 U.K. Withdrawal or reduction of EIS relief

Disposals U.K.

211 Call options U.K.

(1) This section applies if the investor grants an option which, if exercised, would bind the investor to sell any of the relevant shares.

(2) The grant of the option is treated for the purposes of section 209 as a disposal of the shares to which the option relates.

(3) Nothing in this section prejudices section 177 (no pre-arranged exits).