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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Schedule 3 SAYE option schemes: Requirements relating to share options: Exercise rights: Change of control of the participant’s employing company

Option exercise can be triggered on a change in control (as determined in accordance with sections 450 and 451 of CTA 2010) of the subsidiary employing company (paragraph 34(2)(d)).

Following changes introduced by FA13, section 476 liability does not arise on exercise in these circumstances.