Related Commentary  Related HMRC Manuals

519(1)  No liability to income tax arises in respect of the exercise of the share option if–

(a)the individual exercises it in accordance with the provisions of the SAYE option scheme at a time when the scheme is a Schedule 3 SAYE option scheme,

(b)Condition A or B is met, and

(c)the avoidance of tax or national insurance contributions is not the main purpose (or one of the main purposes) of any arrangements under which the option was granted or is exercised.”

519(2)  Condition A is that the option is exercised on or after the third anniversary of the date on which it was granted.

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