Part 7

Employment income: income and exemptions relating to securities
Chapter 5

Securities options

Tax charge on post-acquisition chargeable events

Amount of charge
478
1
The taxable amount for the purposes of section 476 (charge on occurrence of chargeable event) is—
AG - DA
where—
AG is the amount of any gain realised on the occurrence of the chargeable event, and
DA
is the total of any deductible amounts.
2
Section 479 explains what is the amount of any gain realised on the occurrence of a chargeable event.
3
Section 480 specifies what are deductible amounts.
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
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)