ERSM30000 - Restricted Securities: contents


ERSM30010 Introduction

Shares acquired before 16 April 2003

ERSM30030 Shares acquired before 16 April 2003
ERSM30040 Shares acquired before 16 April 2003: general meaning of chargeable event
ERSM30050 Shares acquired before 16 April 2003: year and amount of charge
ERSM30060 Shares acquired before 16 April 2003: exemption from charge
ERSM30070 Shares acquired before 16 April 2003: exemption from charge: the 7 year rule
ERSM30080 Shares acquired before 16 April 2003: exemption from charge: the change in the rights
ERSM30090 Shares acquired before 16 April 2003: exemption from charge: conditions to be met

Conditional shares acquired before 16th April 2003

ERSM30200 Conditional shares acquired before 17 March 1998: transitional issues
ERSM30210 Conditional shares acquired between 17 March 1998 & 15 April 2003: restricted share schemes subject to risk of forfeiture
ERSM30220 Conditional shares acquired between 17 March 1998 & 15 April 2003: scope of legislation
ERSM30230 Conditional shares acquired between 17 March 1998 & 15 April 2003: how are they taxed?
ERSM30240 Conditional shares acquired between 17 March 1998 & 16 April 2003: specific issues dealt with in Tax Bulletin 46

Securities acquired on or after 16 April 2003 - Schedule 22

ERSM30250 Conditional shares acquired on or after 16 April 2003 but with chargeable event before 1 September 2003
ERSM30300 Securities acquired on or after 16 April 2003: introduction
ERSM30310 Meaning of restricted securities and restricted interest in securities
ERSM30320 Definition of ‘restriction’ - forfeitable (or conditional) securities
ERSM30330 Definition of ‘restriction’ - holding of securities
ERSM30340 Definition of ‘restriction’ - potential disadvantage
ERSM30350 Exceptions
ERSM30360 Black-out or close periods: USA & UK listed companies
ERSM30370 No charge on acquisition: forfeiture condition 5 years or less
ERSM30380 Securities acquired for purposes of avoidance - deemed election
ERSM30390 The charge
ERSM30400 Calculation of charge
ERSM30410 Securities disposed of for less than market value
ERSM30415 Computation of OP
ERSM30420 Calculation of charge: simple examples
ERSM30430 Calculation of charge: complex example
ERSM30440 Excluded securities
ERSM30450 Elections to exclude outstanding restrictions
ERSM30460 Elections to exclude outstanding restrictions: further issues
ERSM30470 Restricted shares acquired under approved plan or EMI scheme - deemed election under Section 431(1)
ERSM30480 Securities acquired for purposes of avoidance - deemed election under Section 431(1)
ERSM30490 Relief for NIC elections & agreements
ERSM30500 Exchanges of restricted securities
ERSM30510 French FCPE (Fonds Commun de Placement d’Entreprise)
ERSM30520 Memorandum of Understanding between the BVCA and H M Revenue and Customs on the income tax treatment of managers' equity investments in venture capital and private equity backed companies
ERSM30530 Memorandum of Understanding between the BVCA and H M Revenue and Customs on the income tax treatment of Venture Capital and Private Equity Limited Partnerships and Carried Interest