TC Income Tax, Schedule E-Emolument of office – Salaried director – Right to take up shares at par value, their market value being considerably higher.
Where an employee receives shares as part of his remuneration, he is liable to income tax on the value of the shares, less any consideration which he may have given for them
[1935] UKHL TC – 19 – 174
Bailii
England and Wales
Cited by:
Cited – UBS Ag and Another v Revenue and Customs SC 9-Mar-2016
UBS AG devised an employee bonus scheme to take advantage of the provisions of Chapter 2 of the 2003 Act, with the sole purpose other than tax avoidance, and such consequential advantages as would flow from tax avoidance. Several pre-ordained steps . .
Lists of cited by and citing cases may be incomplete.
Income Tax
Updated: 09 January 2022; Ref: scu.559344