Taxation of Chargeable Gains Act 1992 Schedule 7D paragraph 11

Introductory

Paragraph 11 introduces the scope and application of this Part of Schedule 7D, which deals with the capital gains tax treatment of shares acquired through Company Share Option Plan (CSOP) schemes.

• This Part of Schedule 7D forms part of the CSOP code and uses terms as defined in Schedule 4 to ITEPA 2003.
• The rules apply where an individual has been granted a share option under an approved Schedule 4 CSOP scheme because of their role as a director or employee of a company.
• The rules are triggered when shares (referred to as "the relevant shares") are actually acquired by the individual exercising that option.
• The employing company does not have to be the same company whose shares are under option — it can be a different company within the group or structure.