Share Scheme Manual - SSM12.2

Deferment of tax on option gains: elections: time limit

The last date for an election is 4 June in the year of assessment following that in which the option is exercised. For example if an option is exercised in 1990-91 the last date is 4 June 1991.

Form of election

There is no set form for an election. You can accept any written statement from the taxpayer or agent which expresses a wish to pay the tax by instalments.

Late elections

Late elections should not be accepted. If an application for a late election is pressed, submit to Employee Share Schemes, Bush House for advice.