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HMRC internal manual

Employment Related Securities Manual

From
HM Revenue & Customs
Updated
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International from 6 April 2015: the relevant period - from 6 April 2015: restricted or convertible securities

ITEPA03/S41G(2) says that where there is an amount which counts as employment income by virtue of Chapter 2 (restricted securities) (except where there is a charge under Chapter 3A - see ERSM50200 and ERSM162535) or Chapter 3 (convertible securities), the relevant period -

  • begins with the day the securities are acquired, and
  • ends with the day of the chargeable event

See ERSM30390 for guidance on what constitutes a chargeable event for the purposes of Chapter 2; and ERSM40060 on what constitutes a chargeable event for the purposes of Chapter 3.

See ERSM162525 and ERSM162530 for examples of how the relevant period rules work for Chapter 2 and Chapter 3 respectively.