EIM12310 - PAYE: securities options: share options

Part 7 Chapter 5 ITEPA 2003

Events occurring on or after 1 September 2003

Share options granted by reason of employment are employment-related securities options. So events occurring on or after 1 September 2003 in respect of share options that give rise to a taxable amount under the new Part 7 Chapter 5 are subject to the operation of PAYE in the same way as other securities options (see EIM12300).

Events occurring before 1 September 2003

The old Part 7 Chapter 5 also caught share options granted by reason of employment. An event that occurred before 1 September 2003 in respect of share options that gave rise to a taxable amount under the old Part 7 Chapter 5 may be subject to the operation of PAYE by virtue of the old Section 700 ITEPA 2003 (see EIM11875).