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B Manning v HMRC

In B Manning v HMRC (TC02666 – 1 May) an employee (M) notified his employer (T) on 28 October 2007 that he wished to exercise his rights under a share option scheme under which he paid £7 636 for shares which had a market value of £111 579. The scheme rules provided that M was required to reimburse T for the PAYE due in respect of the option. However T did not provide M with details of the amount due from him until 28 March 2008. T paid this in April 2008. Subsequently HMRC issued an assessment on M charging tax under ITEPA 2003 s 222 on the basis that he had failed to reimburse T within the statutory 90-day time limit. M appealed contending that he had reimbursed T within a month of T informing him of...

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