Louis Daniel Moore v The Commissioners for HMRC

Louis Daniel Moore v The Commissioners for HMRC

The RSUs granted to the appellant were not consideration for the sale of shares but were employment-related securities options, forming part of an incentive and retention package. No deductible amount arose under section 480(2) ITEPA as the RSUs were not consideration for the acquisition of the securities option but were granted in connection with employment. The appeal is dismissed.

Parties
Appellant: Louis Daniel Moore; Respondents: The Commissioners for His Majesty’s Revenue and Customs
Jurisdiction
England and Wales
Judgment Date
11 September 2024
Procedural Posture
Tax Appeal / First Tier Tribunal Judgment
Outcome
Appeal dismissed
Legal Topics
Income Tax, Employment Related Securities, Consideration Under ITEPA, Capital Gains Tax, Restricted Stock Units, Employment Income
Tax Law Income Tax Employment Related Securities Consideration Under ITEPA Capital Gains Tax Restricted Stock Units Employment Income

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 11 Party arguments 2 Amounts and remedies 5
Sign in to unlock

Parties

Louis Daniel Moore

Appellant

The Commissioners for His Majesty’s Revenue and Customs

Respondents

Procedural Posture

Tax Appeal / First Tier Tribunal Judgment

Legal Issues

  1. 1 Whether RSUs granted to the appellant constituted consideration for the sale of shares or were employment-related and taxable as income
  2. 2 Whether any deductible amount arose under section 480(2) ITEPA for consideration given for the RSUs

Ratio Decidendi

The RSUs granted to the appellant were not consideration for the sale of shares but were employment-related securities options, forming part of an incentive and retention package. No deductible amount arose under section 480(2) ITEPA as the RSUs were not consideration for the acquisition of the securities option but were granted in connection with employment. The appeal is dismissed.

Court Disposition

Appeal dismissed

Orders

  • No deductible amount allowed for RSUs under section 480(2) ITEPA
  • Taxable as employment income