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HMRC internal manual

Employment Related Securities Manual

From
HM Revenue & Customs
Updated
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The relevant period - up to 5 April 2015: securities acquired for less than market value

Section 41B(3) says how the relevant period is determined where there is an amount which counts as employment income by virtue of 446U on the discharge of a notional loan within Chapter 3C (see ERSM70140). The relevant period will differ depending on whether or not the securities are acquired pursuant to a securities option. (See ERSM160740 and ERSM160745)