Part 12Other relief for employee share acquisitions

Chapter 4Additional relief in cases involving restricted shares

1026Relief available on occurrence of chargeable event

1

This section applies in relation to relief available as a result of the occurrence of a chargeable event.

2

The relief is given for the accounting period in which the chargeable event occurs.

3

The amount of relief is equal to the amount that counts as employment income of the employee under section 426 of ITEPA 2003 in relation to the chargeable event.

4

For the purposes of subsection (3) the following are to be ignored—

a

any relief under section 428A of ITEPA 2003,

b

section 446E(6) of ITEPA 2003, and

c

the amount of any non-commercial increase (as defined in section 446K(4) of ITEPA 2003) in the market value of the restricted shares after their acquisition.

F15

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