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HMRC internal manual

Capital Gains Manual

Employment-related securities: employee: shares subject to risk of forfeiture acquired before 1 September 2003

Where shares subject to the risk of forfeiture were acquired before 1 September 2003, TCGA92/S149B, see CG56321, provides that Section 17(1) shall not apply and that the acquisition consideration is to be taken to be the actual amount or value paid for those shares (subject to any addition required under section 120, see CG56329).

Where shares subject to the risk of forfeiture were acquired before 17 March 1998 the acquisition cost was the market value of the shares at the time of the award taking into account the risk of forfeiture.

For the acquisition of restricted employment-related securities (including shares and other securities subject to the risk of forfeiture) on or after 1 September 2003 see CG56321.