June 27, 2012
The PAYE rules regarding share-based payments, which include share option awards, changed from 6 April 2012. Any payments (including taxable awards) made after the employment has ceased and the form P45 has been issued, must be subject to the 0T (zero T) tax code by the former employer, on a week 1 or month 1 basis. HMRC have issued a list of six questions and answers regarding taxation of such share-based payments.
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