# Finance Act 2000, Paragraph 54

Extent: E+W+S+N.I.

(1) Section 162(1) of the Taxes Act 1988 (deemed employment-related loan in case of acquisition of shares at an undervalue), as it applies in relation to an employee chargeable to tax under Case I of Schedule E, does not apply in relation to the acquisition of shares by the exercise of a qualifying option.
(2) This does not affect any charge to tax under section 162(6) of that Act (stop-loss provisions).

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/14/paragraph/54 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-14/paragraph-54
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.