Nigel Doran and Philip Swinburn (Macfarlanes) examine the Upper Tribunal decision on the employment-related securities provisions of ITEPA 2003 Part 7.
The case of John Charman v HMRC [2020] UKUT 253 concerns employment-related securities and securities options in the context of ITEPA 2003 Part 7. The applicable provisions in Part 7 have moved on since the events considered in the case but it is remarkable how relevant the decision and the principles discussed in it are to the application of Part 7 today. The case considers two issues:
1. the date when an employment-related securities option is acquired; and
2. whether securities acquired in exchange for employment-related securities are themselves employment-related for Part 7 purposes.
The first issue: date on which securities option acquired
The first issue in Charman is the point at which a securities option is considered to have been ‘acquired’. HMRC was...
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Nigel Doran and Philip Swinburn (Macfarlanes) examine the Upper Tribunal decision on the employment-related securities provisions of ITEPA 2003 Part 7.
The case of John Charman v HMRC [2020] UKUT 253 concerns employment-related securities and securities options in the context of ITEPA 2003 Part 7. The applicable provisions in Part 7 have moved on since the events considered in the case but it is remarkable how relevant the decision and the principles discussed in it are to the application of Part 7 today. The case considers two issues:
1. the date when an employment-related securities option is acquired; and
2. whether securities acquired in exchange for employment-related securities are themselves employment-related for Part 7 purposes.
The first issue: date on which securities option acquired
The first issue in Charman is the point at which a securities option is considered to have been ‘acquired’. HMRC was...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
