# Income Tax (Earnings and Pensions) Act 2003, Paragraph 65

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

(1) This paragraph relates to the operation of section 478 in relation to an event that is a chargeable event by virtue of section 477(3)(a) or (b) (acquisition of securities pursuant to an option and assignment and release of option) in the case of a share option acquired before 6th April 2003.
(2) For the purposes of section 478(1), if an amount was chargeable to tax under section 185(6) of ICTA (charge where option under approved share option scheme granted at a discount) in respect of the share option, so much of that amount as is attributable to the shares in question is a deductible amount.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/7/paragraph/65 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-7/paragraph-65
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.