Part 7

Employment income: income and exemptions relating to securities
Chapter 5

Securities options

Tax relief on acquisition of option

No charge in respect of acquisition of option
475
1
No liability to income tax arises in respect of the acquisition of an employment-related securities option.
2
Subsection (1) is subject to section 526 (
...
CSOP
schemes: charge where share option granted at a discount).
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
Word in s. 475(2) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 195, 204 (with Sch. 8 paras. 205-215)
Pt. 7 Ch. 5 substituted (16.4.2003 for specified purposes and otherwise 1.9.2003 with effect in accordance with Sch. 22 para. 10(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 10(1); S.I. 2003/1997, art. 2
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)