NIM06913 - Examples - original share option acquired before 6 April 1999 and replaced with new option. Total discount of replacement option not substantially greater than total discount of the original option released.
- 6 February 1999 - option A acquired
- 10 April 2000 - option A released for option B
| Date | 6/2/99 | 10/4/00 | 10/4/00 |
| Event | A acquired | A released | B acquired |
| No. of shares | 1000 | 1000 | 709 |
| MV(£) | 1000 | 2680 | 2687 |
| EP(£) | 1000 | 1000 | 999 |
| Discount(£) | Nil | 1680 | 1688 |
The value of the total discount on option B is not substantially greater than the discount on option A and therefore the gains from the exercise of option B can be disregarded from NICs liability (paragraph 16A, Part 1X, Schedule 3, SSCR 2001).
