Related Commentary  Related HMRC Manuals

438(1)  If a chargeable event occurs in relation to the employment-related securities, the taxable amount counts as employment income of the employee for the relevant tax year.

438(2)  For this purpose–

(a)chargeable event”  has the meaning given by section 439,

(b)the taxable amount”  is the amount determined under section 440, and

(c)the relevant tax year”  is the tax year in which the chargeable event occurs.

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