Part 7Employment income: share-related income and exemptions

Chapter 6Approved share incentive plans

Tax advantages connected with holding of shares

495No charge on increase in value of shares of dependent subsidiary

(1)

A participant is not liable to income tax by virtue of section 453 (charge on increase in value of shares of dependent subsidiary) in respect of any of the participant’s shares that are subject to the plan at or immediately before the appropriate time.

(2)

“The appropriate time” means the time by reference to which a chargeable increase is determined for the purposes of that section (see section 454(3) or (5)).