# Income Tax (Earnings and Pensions) Act 2003, Section 446Y: Amount treated as income


(1) Where this Chapter applies the amount determined under subsection (3) counts as employment income of the employee for the relevant tax year.
(2) The “relevant tax year” is the tax year in which the disposal occurs.
(3) The amount is—
CD-MV-DAwhere—
CD is the amount of the consideration given on the disposal,
MV is the market value of the employment-related securities at the time of the disposal, and
DA is the amount of any expenses incurred in connection with the disposal.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/section/446Y (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-446Y
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.