Unapproved option schemes Flashcards by Phil Lopez

Q

Tax at Grant of option

A

No tax

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Q

Tax at excercise date

A

IT and NIC on employment income

+ MV @ excercise date
- Less cost of option
- Less cost of shares
=Employment income

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Q

Tax at sale of shares

A

CGT arises on gain

Sale proceeds
-MV when options excercised
=Chargeable gain

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