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A post-acquisition charge may be made on more than one occasion if there is a succession of chargeable events. If an employee’s interest in the shares is less than full beneficial ownership the charge is made on an ‘appropriate part� of the amount by which the shares have increased in value.

It is conceivable that some other event, such as a sudden sharp movement in Stock Exchange prices, might have the effect of disguising a chargeable event. In such circumstances the legislation would still permit an Income Tax charge to be made.