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Correspondence from readers on topical subjects.
No error
The second part of Colin Kendon's article, 'Harry's options', (Taxation, 15 February 2006, page 193, discussed the impact of Enterprise Management Incentive (EMI) options on the sale of company shares. In that article, the author considered transfers of shares between spouses and their subsequent disposal to a third party, stating:
Correspondence from readers on topical subjects.
No error
The second part of Colin Kendon's article 'Harry's options' (Taxation 15 February 2006 page 193 discussed the impact of Enterprise Management Incentive (EMI) options on the sale of company shares. In that article the author considered transfers of shares between spouses and their subsequent disposal to a third party stating:
'The legislation is clear; the transferee spouse is treated as acquiring the option shares on the grant date (TCGA 1992 Sch 7D para 15 and Sch A1 para 15(3)(b)) so shares acquired pursuant to options granted in March 2006 would benefit from one year's business asset taper relief on sale by the transferee spouse. Practitioners should be aware of an error in HMRC's Guide EMIs for Employees Employers and Advisers on page 22 which suggests that taper relief runs from...
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