Section 530 — Income Tax (Earnings and Pensions) Act 2003: No charge on exercise of option to acquire shares at market value

No charge on exercise of option to acquire shares at market value 530 1 This section applies if the option is to acquire shares at not less than their market value—

a at the time when the option is granted, or b if it is a replacement option, at the time when the original option was granted.

2 If this section applies, no liability to income tax arises by virtue of section 476 (charge on exercise etc. of option by employee) in respect of the exercise of the option.

3 This section has effect subject to section 532 (modified tax consequences following disqualifying events).