PART 1Income tax

Employment income: other provision

17Securities options

1

In section 418 of ITEPA 2003 (provisions related to Part 7 of ITEPA 2003), in subsection (1), omit “(but not securities options)”.

2

In that section, after subsection (1) insert—

1A

But Chapters 1 and 10 of Part 3 do not have effect in relation to—

a

the acquisition of employment-related securities options (within the meaning of Chapter 5 of Part 7), or

b

chargeable events (within the meaning given by section 477) occurring in relation to such options.

3

In section 227 of that Act (scope of Part 4), in subsection (4), before paragraph (a) insert—

za

section 418(1A) (acquisition of, and chargeable events occurring in relation to, employment-related securities options);

4

The amendments made by this section come into force on 6 April 2016.