My clients know that the Finance Act 2013 made the exercise of options granted under company share option plans (CSOPs) and savings-related share option schemes (also known as SAYE or sharesave) more favourable on a change of control of the grantor company. Now they are asking about the new proposals in the 2014 Finance Bill relating to the exercise of options on a change of control and corporation tax deductions and whether they should amend their share scheme rules to reflect these changes. What should I tell them?
Before last year’s Finance Act the exercise of CSOP or SAYE options in the event of a change of control of the company – a takeover in the case of a listed company a trade sale in the...
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