Residence up to 5 April 2015 (see ERSM162000 for periods from 6 April 2015)

Interaction of Chapter 3C with Chapter 5 (securities options)

Chapter 5 Part 7 ITEPA 2003 (securities options) exempts employees who subsequently become resident in the UK from the Chapter 5 charge at exercise, where the options were granted in a tax year when the employee was not resident in the UK, such that the provisions of ITEPA03/S15, ITEPA03/S22 or ITEPA03/S26 did not apply to their general earnings.

(For options granted before 6 April 2008 the exemption applied to any employee who was not resident and ordinarily resident in the UK in the year of grant.)

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