Related Commentary  Related HMRC Manuals

431(1)  The employer and the employee may elect in relation to employment-related securities which are restricted securities or a restricted interest in securities that–

(a)for the relevant tax purposes their market value at the time of the acquisition is to be calculated as if they were not, and

(b)sections 425 to 430 are not to apply to the employment-related securities.

431(2)  Or the employer and the employee may elect in relation to employment-related securities which are restricted securities or a restricted interest in securities that–

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