(b) (i) State the condition that would need to be satisfied for the exercise of Paul’s share options in Memphis
plc to be exempt from income tax and the tax implications if this condition is not satisfied.
(2 marks)
正确答案：(b) (i) Paul has options in an HMRC approved share scheme. Under such schemes, no tax liabilities arise either on the grantor exercise of the option. The excess of the proceeds over the price paid for the shares (the exercise price) is charged tocapital g
