Shares
Those company shares or securities that are the subject of the option in question.
Exercise
The right to acquire shares is realised and the shares acquired in accordance with the company’s share scheme rules.
Assignment and release
Occasions where share options are traded for a consideration.
Roll-over
The exchange of one share option for another option over shares e.g. following a company reconstruction.
Replacement option
An option into which the original option is rolled-over or exchanged.
Special Contribution
An employer only NIC liability.
Special charge
Has the same meaning as Special Contribution. The rate will be 12.2% which, is equal to the Class 1A employer NIC charge for the 2000-2001 tax year.
Double tax deductions
This can arise where a special contribution under section 2 is not made within the 92 day deadline, and Section 187A Income and Corporation Taxes Act 1988 nevertheless allows relief.
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