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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

From
HM Revenue & Customs
Updated
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Company Share Option Plan (CSOP): Taxation: Disposal of shares - general

A disposal of shares is a chargeable occasion for capital gains tax purposes. In computing the capital gain or loss on disposal of shares which were originally acquired by directors or employees exercising Schedule 4 CSOP options, the base cost to be deducted from the disposal proceeds is normally, for options acquired on or after 10 April 2003:

  • the amount (if any) paid for the option, plus
  • the option exercise price paid for the shares themselves, plus
  • any amount that counted as employment income of the employee under section 476 when the shares were acquired by exercising an option.