ERSM90040 - Post Acquisition Benefits from Securities

Between 16 April 2003 and 1 December 2004, for a benefit to fall within Chapter 4, that benefit had to be received 鈥渂y virtue of the ownership of employment-related securities鈥�. There had to be some right or discretion under the terms of ownership set out in the articles of association of the company or shareholders鈥� agreement regarding the securities for the benefit provided, or a decision by the employer to provide the benefit to owners of such securities.

From 2 December 2004, for a benefit to fall within Chapter 4, that benefit must be received 鈥渋n connection with employment-related securities鈥�. The wording was amended to be more consistent with wording used elsewhere in Part 7 and make clear that chargeable benefits may arise otherwise than through direct or continuing ownership of securities. See ERSM90050 on nature of benefit.