Where the employee is deprived of the option by operation of
law, per ITEPA03/S476 (5), the “relevant person”
is chargeable to tax under ITTOIA05/S687 (charge to tax on income
not otherwise charged - old Case VI of Schedule D) using the
calculation basis set out in ITEPA03/S478.
In this context, “relevant person” means the
person who acquired the securities or the consideration or
benefit.
