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HMRC internal manual

Employment Related Securities Manual

HM Revenue & Customs
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International from 6 April 2015: the relevant period - from 6 April 2015: securities acquired for less than market value

Section 41G(6) 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 ERSM70150). The relevant period will differ depending on whether or not the securities are acquired pursuant to a securities option. (See ERSM162545 and ERSM162550)