Section 426 — Finance Act 2003: Charge on occurrence of chargeable event

Charge on occurrence of chargeable event 426 1 This section applies if a chargeable event occurs in relation to the employment-related securities.

2 The taxable amount determined under section 428 counts as employment income of the employee for the relevant tax year.

3 The “ relevant tax year ” is the tax year in which the chargeable event occurs.

4 Section 427 explains what are chargeable events for the purposes of this section.

5 This section is subject to section 429 (case outside charge under this section).