Sjumarken v Revenue and Customs Commissioners

Income tax – Emoluments from office or employment. The Upper Tribunal (Tax and Chancery Chamber) dismissed the appeal by the taxpayer against a decision of the First-tier Tribunal (Tax Chamber)(the FTT) that the value of share options which had been granted to the taxpayer during his employment could not be treated as reducing the taxpayer's taxable income, comprising of cash and shares under the terms of a compromise agreement, that he had received from his employer following the termination of his employment.

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