The following Share Incentives guidance note Produced in partnership with Lewin Higgins-Green of Macfarlanes LLP provides comprehensive and up to date legal information covering:
This Practice Note summarises the taxation of internationally mobile employees and directors in relation to securities options (Options) charged to tax within Chapter 5 of Part 7 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) from 6 April 2015.
The summary below reflects the technical positions set out in Practice Note: Internationally mobile employees with securities options.
For information in respect of employment-related securities, see Practice Note: Internationally mobile employees with employment-related securities.
This Practice Note is intended to be supplementary to the technical content of those Practice Notes and adds further practical guidance for advisors about how businesses should process Options for individuals who work across jurisdictions.
For technical information about whether pay as you earn (PAYE) applies, see Practice Notes: PAYE implications of securities options and PAYE—readily convertible assets, intermediaries and jurisdictional scope.
For more information in respect of UK tax issues for cross-border employment generally, see Practice Note: UK tax issues for cross-border employment.
The summary table below provides practical considerations for Options.
The table summarises the position set out within ITEPA 2003, Pt 2, Ch 5B in respect of individuals who meet one or more of the following international mobility conditions during any part of the relevant period:
the individual claims the remittance basis of tax
the individual is not a UK tax resident, or
there is an overseas part of
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