Section 1027: Relief available on death of employee
2667.This section gives the relief available on the death of the employee. It is based on paragraphs 21 and 22 of Schedule 23 to FA 2003.
2668.The amount of the relief is calculated by deeming the shares to be sold to an unconnected person immediately before the death of the employee (see subsection (3)). This deemed sale is a chargeable event within section 427(3) of ITEPA.