Section 475 No charge in respect of acquisition of optionF1
United Kingdom
(1)
No liability to income tax arises in respect of the acquisition of an employment-related securities option.
(2)
Subsection (1) is subject to section 526 (... CSOP schemes: charge where share option granted at a discount).
Annotations
Textual amendments
- F1
Pt. 7 Ch. 5 substituted (16.4.2003 for specified purposes and otherwise 1.9.2003 with effect in accordance with Sch. 22 para. 10(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 10(1); S.I. 2003/1997, art. 2
Notes on Part 7
Textual amendments
- F1
Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)
Modifications
- C1
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)