Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Plans definition

What does Plans mean? Describes the set of design and technical documents for a project. In practice, parties use Plans to mean the drawings and related information that describe the works and are relied upon for design, planning, procurement and construction. The term is not generally defined by statute or case law; its scope is fixed by the contract or licence. Plans means all plans, drawings, models, specifications, reports, design documents and any other materials provided by the Licensor for the purposes of the Project, in hard copy or electronic form, including (without limitation) CAD/BIM models, federated models, schedules, surveys, calculations, method statements, datasheets and...

CSOP options: UK income tax, NICs and apprenticeship levy: grant, exercise (including good leavers, takeovers, death), surrender, PAYE, withholding and restricted securities treatment

Published by a LexisNexis Share Incentives expert

Practice notes

When designed, operated and monitored correctly, in line with company share option plan (CSOP) legislation, the income tax and national insurance contributions (NICs) position for qualifying CSOP options can be highly advantageous in tax terms. This Practice Note outlines the income tax and NICs treatment of qualifying CSOP options with reference to, and in accordance with, Part 7, Chapter 8 of the Income Tax (earnings and Pensions) Act 2003 (ITEPA 2003). For further discussion of the capital gains tax and corporation tax consequences of CSOP options, see Practice Note: CSOP—CGT treatment and corporation tax treatment.

Income tax—basic principles

Income tax is charged on income, though not every form of income is taxable. Individuals are assessed only on ‘taxable income’ above a particular threshold. Numerous reliefs and allowances can reduce the overall tax due. For an outline of the income tax charge, including who is within scope and how the amount is calculated, see Practice Note: What is the basis of income tax? For the current rates, see Practice Note: Tax and other rates which are relevant to share incentives.

CSOP options and income tax

ITEPA 2003, ss 471–484 contains the core statutory provisions governing the taxation of employment-related securities options...

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Web page updated on 21/05/2026

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