Part 7

Employment income: income and exemptions relating to securities
Chapter 3D

Securities disposed of for more than market value

Amount treated as income
446Y
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—
CD - MV - DA
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: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
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)
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)