[483 Application of this Chapter where option exchanged for another]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[Supplementary provisions]

[483  Application of this Chapter where option exchanged for another]

[(1)     This section applies if—

(a)     the employment-related securities option (the “old option”) is assigned or released, and

(b)     the whole or part of the consideration for the assignment or release consists of or includes another securities option (the “new option”).

(2)     For the purposes of section 479(5) (amount of gain realised by assigning or releasing option) the new

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