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Paragraph 4

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

To be a qualifying option a share option must be granted for commercial reasons in order to recruit or retain an employee in a company, and not as part of a scheme or arrangement the main purpose (or one of the main purposes) of which is the avoidance of tax.

Notes on Schedule 5

Modifications

C1

Sch. 5 modified (18.3.2026) by Finance Act 2026 (c. 11), s. 16

C2

Sch. 5 modified (6.4.2026) by Finance Act 2026 (c. 11), s. 13(10)