Fiona Walkinshaw1 partner Reynolds Porter Chamberlain LLP considers remedies available to taxpayers who have made overpayments of tax in light of Angus Monro v Commissioners for HMRC
As has been widely reported Mr Monro was chief executive of Matalan plc between 1996 and 2001. On 12 May 1998 he was granted for no consideration an option to acquire 1 357 230 shares in Matalan at an exercise price of zero. On 14 May 1998 he exercised the option when the market value of the shares was £2.35 per share. On 1 May 1999 Mr Monro sold 900 000 shares for £7 386 955. In his self-assessment tax return for 1998/99 (the year of exercising the option) Mr Monro declared a gain accruing on exercise and...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
Fiona Walkinshaw1 partner Reynolds Porter Chamberlain LLP considers remedies available to taxpayers who have made overpayments of tax in light of Angus Monro v Commissioners for HMRC
As has been widely reported Mr Monro was chief executive of Matalan plc between 1996 and 2001. On 12 May 1998 he was granted for no consideration an option to acquire 1 357 230 shares in Matalan at an exercise price of zero. On 14 May 1998 he exercised the option when the market value of the shares was £2.35 per share. On 1 May 1999 Mr Monro sold 900 000 shares for £7 386 955. In his self-assessment tax return for 1998/99 (the year of exercising the option) Mr Monro declared a gain accruing on exercise and...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")