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Share options exercised in US Parent

Concerned over treatment

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Dear all

Can i confirm the treatment for the following as i am unsure if there is tax/CGT and/or PAYE due under the s222 charge.

My client in January this year  exercised options that had vested in the US parent of his UK employer. She exercised the option and paid the $20k (£17k approx) for the shares and now holds those shares, they were not sold on. She bought 20,000 shares at the option price of $1.00. (At the date she purchased them in January the market price was $7.00. The payment was made from her perosanl bank and not in any way through the UK payroll.

The options exercised had vesated at various stages over the last 4 years as her employment continued.

Is there any issue under the s222 charge or (if i am honest i have not come across this before where the employee has actually bought the options and they have not been resold and taxed via payroll) is that a red herring i have read about that is not applicable - i am concerned as it would be due in the next few weeks if relevant.

Any help would be greatly received 


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