(ii) Explain the income tax (IT), national insurance (NIC) and capital gains tax (CGT) implications arising on
the grant to and exercise by an employee of an option to buy shares in an unapproved share option
scheme and on the subsequent sale of these shares. State clearly how these would apply in Henry’s
case. (8 marks)
正确答案：(ii) Exercising of share optionsThe share option is not part of an approved scheme, and will not therefore enjoy the benefits of such a scheme. Thereare three events with tax consequences – grant, exercise and sale.Grant. If shares or options over shares
