The following Tax Q&A provides comprehensive and up to date legal information covering:
It is possible for an employee (or director) and employer to make a joint election under section 431 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) for employment-related securities to be removed from the restricted securities regime. Where such an election is made in the approved form within 14 days of acquisition:
the income tax (and National Insurance contributions) charges to which the employer or director (and employing company) is subject on acquisition are computed by reference to the full unrestricted market value of the employment-related securities at that time, and
no further income tax charges will arise under the restricted securities rules on subsequent chargeable events
This means that any increase in the market value of the restricted securitie
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