Summary and Background Definitions
SharesThose company shares or securities that are the subject of the option in question.
	ExerciseThe right to acquire shares is realised and the shares acquired in accordance with the company’s share scheme rules.
	Assignment and releaseOccasions where share options are traded for a consideration.
	Roll-overThe exchange of one share option for another option over shares e.g. following a company reconstruction.
	Replacement optionAn option into which the original option is rolled-over or exchanged.
	Special ContributionAn employer only NIC liability.
	Special chargeHas the same meaning as Special Contribution. The rate will be 12.2% which, is equal to the Class 1A employer NIC charge for the 2000-2001 tax year.
	Double tax deductionsThis can arise where a special contribution under section 2 is not made within the 92 day deadline, and Section 187A Income and Corporation Taxes Act 1988 nevertheless allows relief.