Part 7Employment income: income and exemptions relating to securities
F1Chapter 3DSecurities disposed of for more than market value
446YAmount treated as income
(1)
Where this Chapter applies the amount determined under subsection (3) counts as employment income of the employee for the relevant tax year.
(2)
The “relevant tax year” is the tax year in which the disposal occurs.
(3)
The amount is—
where—
CD is the amount of the consideration given on the disposal,
MV is the market value of the employment-related securities at the time of the disposal, and
DA is the amount of any expenses incurred in connection with the disposal.