Grant of options

Where a UK resident individual obtains a right to acquire shares by reason of his or her office or employment as a director or employee under a SAYE scheme, this will be exempt from income tax. The basis for this exemption from charge is ITEPA 2003, s. 475, which applies to employment-related share options generally (the old specific exemption for share options granted under a SAYE scheme, in former ITEPA 2003, s. 518, no longer applies).

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