Taxation of Chargeable Gains Act 1992 Schedule 7D paragraph 14

Introductory

Paragraph 14 introduces the part of Schedule 7D that deals with Enterprise Management Incentive (EMI) options and defines the key term used throughout that part.

• This part of Schedule 7D forms part of the wider EMI code, which is the tax regime governing qualifying EMI share options
• The EMI code is established under section 527 of the Income Tax (Earnings and Pensions) Act 2003, which sets out what constitutes a qualifying EMI option
• "Qualifying shares" is defined as shares that an individual has acquired by exercising a qualifying EMI option
• This definition of qualifying shares applies throughout this part of the Schedule and is central to determining the chargeable gains treatment of those shares