- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
No liability to income tax arises in respect of the receipt of the share option.
(1)No liability to income tax arises in respect of the exercise of the share option if—
(a)the individual exercises it in accordance with the provisions of the SAYE option scheme at a time when the scheme is approved, and
(b)condition A or B is met.
(2)Condition A is that the option is exercised on or after the third anniversary of the date on which it was granted.
(3)Condition B is that the option—
(a)is exercised before the third anniversary of the date on which it was granted, and
(b)is so exercised otherwise than by virtue of a provision included in the scheme under—
paragraph 34(5) of Schedule 3 (exercise of option where scheme-related employment ends), or
paragraph 37 of that Schedule (exercise of option where certain company events occur).
(4)This section does not affect the operation of section 477(4) (no charge on exercise of option by personal representatives etc.).
(5)In Schedule 3—
(a)paragraph 32 provides for the exercise of an option where the holder has died, and
(b)paragraph 42(3) provides for an SAYE option scheme to be treated as approved at the time when an option is exercised even though approval of the scheme has been previously withdrawn.
(1)This section applies if—
(a)the individual exercises the share option in accordance with the provisions of the SAYE option scheme at a time when the scheme is approved, and
(b)condition A or B (as set out in section 519(2) or (3)) is met.
(2)No liability to income tax arises by virtue of—
section 449 (charge where restrictions or rights varied after acquisition), or
section 453 (charge on increase in value of shares of dependent subsidiaries),
in respect of shares acquired by the exercise of the share option.
(3)Paragraph 42(3) of Schedule 3 provides for an SAYE option scheme to be treated as approved at the time when an option is exercised even though approval of the scheme has been previously withdrawn.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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