Part 12Other relief for employee share acquisitions
Chapter 5Additional relief in cases involving convertible securities
1031Additional relief available if shares acquired are convertible shares etc
1
Relief under this Chapter is available to the employing company if, after the acquisition of the acquired securities, a chargeable event (see section 1032) occurs in relation to those securities.
2
Relief under this Chapter is also available to the employing company if the employee—
a
is dead when that acquisition occurs, or
b
dies after that acquisition.
3
But relief resulting from subsection (2) does not become available until the occurrence of the first event (referred to in this Chapter as “the relief event”) occurring after the employee's death that would have been a chargeable event in relation to the acquired securities had the employee been alive.
4
To find out what accounting period the relief is given for and how to calculate the amount of relief, see—
a
section 1033 for relief available as a result of the occurrence of a chargeable event, and
b
section 1034 for relief available as a result of the employee's death.
Those sections are supplemented by section 1035.
5
Section 1036 provides for the relief to be given to a successor company if the qualifying business is transferred by group transfers.