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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: chapters 3A and 3B

Chapter 3A - artificially depressed market value (ERSM50000)

Acquisition charge

Where an amount of employment income arises under Chapter 3A on the acquisition of employment-related securities whose value is artificially reduced (see ERSM50100), by virtue of ITEPA03/S446B, the relevant period is the tax year in which the acquisition occurs.

Charge on restricted securities

Where the Chapter 3A charge arises under ITEPA03/S446E - the charge on restricted securities whose value is artificially reduced (see ERSM50250) - then the relevant period runs from the start of the tax year in which the chargeable event occurs, to the date of the chargeable event.

Chapter 3B - artificially increased market value (ERSM60000)

Where an amount of employment income arises under Chapter 3B in respect of employment-related securities whose value is artificially increased (see ERSM60100) - then the relevant period runs from the start of the tax year in which the valuation date (ERSM60100) falls, to the valuation date.