# Income Tax (Earnings and Pensions) Act 2003, Paragraph 4


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.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/5/paragraph/4 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-5/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.