Section 446C — Finance Act 2003: Amount of charge

Amount of charge 446C 1 The taxable amount for the purposes of section 446B (charge on acquisition) is— FMV - MV 2 FMV is what would be the market value of the employment-related securities at the time of the acquisition if the things mentioned in section 446B(1) had not been done.

3 MV is the actual market value of the employment-related securities at the time of the acquisition.

4 But where what would be MV is less than the amount of any consideration given for the acquisition of the employment-related securities, MV is the amount of that consideration.

5 This section is subject to section 446D (restricted securities and convertible securities).