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HMRC internal manual

Employment Related Securities Manual

International from 6 April 2015: the relevant period - from 6 April 2015: securities acquired for less than market value pursuant to securities option

Where the securities in question were acquired by virtue of the exercise of a securities option, the relevant period:

  • begins with the day of the acquisition of the option, and
  • ends with the day the option vests

(Note: an option “vests” at the time it becomes exercisable, subject only to any period of time expiring (ITEPA03/S41G(11). See ERSM162565.)