The Charman case is an important case on the employment-related securities provisions of ITEPA 2003 Part 7. It involves two issues. The first concerns the date on which an employment-related securities option is acquired, namely the date on which the option is granted or the date or dates on which it vests. The Upper Tribunal decided that, in Mr Charman’s case, it was the former. The second issue concerns the exchange of employment-related shares for shares in a new group holding company and asks whether it follows that the new shares must also be employment-related for Part 7 purposes. The UT decided that, in Mr Charman’s case, it did.
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The Charman case is an important case on the employment-related securities provisions of ITEPA 2003 Part 7. It involves two issues. The first concerns the date on which an employment-related securities option is acquired, namely the date on which the option is granted or the date or dates on which it vests. The Upper Tribunal decided that, in Mr Charman’s case, it was the former. The second issue concerns the exchange of employment-related shares for shares in a new group holding company and asks whether it follows that the new shares must also be employment-related for Part 7 purposes. The UT decided that, in Mr Charman’s case, it did.
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