[F2446YAmount treated as incomeU.K.
This section has no associated Explanatory Notes
(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.]
Textual Amendments
F2Pt. 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)