I have a client who is providing advice to a start up company. In exchange for his advice, he will receive share options, exercisable at set milestones.
I am aware how share options are taxed on employees, but what about external consultants? Would he be taxed on the market value at grant of the options, and any gains charged to CGT, or would he be taxed on the value at exercise of the options?
I cannot find any guidance for non-employees anywhere.
Any pointers greatly appreciated!