Income Tax (Earnings and Pensions) Act 2003 section 522

Share options to which this Chapter applies

Section 522 identifies which share options fall within the scope of this Chapter, specifically those granted under a Schedule 4 CSOP scheme in connection with an individual's employment or directorship.

• The Chapter applies to share options granted to an individual under a Schedule 4 Company Share Option Plan (CSOP) scheme
• The option must be granted by reason of the individual's role as a director or employee of a company
• The individual does not have to be a director or employee of the specific company whose shares are subject to the option — they may work for a different company
• The key qualifying conditions are that the option complies with the CSOP scheme rules and is linked to the individual's office or employment