Turning to Jelley…
13 September 2012
Tax column:
AT considers the implications - some helpful, some not - of the share option decision in Mansworth v Jelley and the Revenue’s interpretation of the case
Of the hundreds of tax cases heard every year, few make a lasting impression. But on 12 December 2002, the Court of Appeal delivered its judgement on Mansworth v Jelley. This, and the subsequent Inland Revenue interpretation note, has become a talking point for anyone involved in tax.
Generally, if an employee exercises an unapproved share option (or makes an...