Income Tax (Earnings and Pensions) Act 2003 section 472

Associated persons

Section 472 defines who counts as an "associated person" in relation to an employment-related securities option, which is relevant for the tax rules in this chapter.

• Associated persons include the person who originally acquired the securities option, the employee (if different), and any relevant linked person.
• A relevant linked person is someone who is or has been connected to, or a member of the same household as, the option holder or the employee.
• A company is excluded from being a relevant linked person if it is the employer, the entity from which the option was acquired, or the entity that made the option available.
• The definition captures family members, cohabitants, and other connected individuals but carves out the corporate parties directly involved in the option arrangement.