Part 7 Chapter 5 ITEPA 2003

Part 7 Chapter 5 ITEPA 2003 was fundamentally amended by Schedule 22 FA 2003:

with effect from 16 April 2003 in relation to employment-related securities options which are not share options (see EIM12320) and

with effect from 1 September 2003 in relation to employment-related securities options which are share options (see EIM12310).

It provides for a charge to income tax on the occurrence of a chargeable event in relation to an employment-related securities option. Broadly, the events that represent a chargeable event in relation to an employment-related securities option are:

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