PAYE: securities options: other securities options
Part 7 Chapter 5 ITEPA 2003
Events occurring on or after 1 September 2003
An event occurring on or after 1 September 2003 in respect of securities options that give rise to a taxable amount under the new Part 7 Chapter 5 are subject to the operation of PAYE by virtue of the new Section 700 ITEPA 2003 (see EIM12300).
Events occurring between 16 April 2003 and 31 August 2003
The old Section 700 ITEPA 2003 only required the operation of PAYE in respect of amounts likely to be PAYE income by virtue of the old Part 7 Chapter 5. Securities options that are not share options were not caught by the old Part 7 Chapter 5. Therefore, although an event occurring on or after 16 April 2003 and not later than 31 August 2003 in respect of securities options that are not share options may give rise to a taxable amount under the new section Part 7 Chapter 5, there is no requirement for the operation of PAYE.