C1Part 7F2Employment income: income and exemptions relating to securities
Annotations:
Amendments (Textual)
Modifications etc. (not altering text)
C1
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
F1Chapter 3DSecurities disposed of for more than market value
Annotations:
Amendments (Textual)
F1
Pt. 7 Ch. 3D inserted (with effect in accordance with Sch. 22 para. 8(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 8(1)
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.
Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)