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HMRC internal manual

Shares and Assets Valuation Manual

HM Revenue & Customs
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Tax Advantaged Share Schemes: approved company share option plans (CSOP)

These schemes were previously called approved discretionary or executive share option schemes. They are now described as company share option plans. A company, which operates an approved CSOP, may grant to any of its employees or full-time directors an option to acquire shares.

The price at which the options allow the shares to be purchased is the market value of the shares at the time the option is granted.

Market value is computed in accordance with the normal CGT basis at the date of grant (or such earlier date as the rules allow).

CSOP guidance is available in the Employee Share Schemes User Guide at ESSUM40000.

  Additional Guidance:SVM150000