Income tax – application of the employee share scheme rules to employer issued cryptoassets provided to an employee
This ruling considers when the provision of cryptoassets to an employee will constitute an employee share scheme in respect of which an employee derives a taxable benefit that is employee income under s CE 1(1)(d).
This item replaces BR Pub 19/04: Income tax - application of the employee share scheme rules to employer issued crypto-assets provided to an employee. There have been no changes to the original ruling.
Companies Act 1993, s 36
Financial Markets Conduct Act 2013
Income Tax Act 2007, ss CE 1(1)(d), CE 2, CE 7, CE 7B, CW 26, CW 26F, RD 7B, YA 1 (definition of “share”)
Borland’s Trustee v Steel Brothers and Co Ltd [1901] 1 Ch 279
Bradbury v English Sewing Cotton Co Ltd [1923] AC 744
CIR v Gulf Harbour Development Ltd [2004] 2 NZLR 768 (HC)
Inland Revenue Commissioners v Tring [1939] 2 All ER 105
IRC v Woolf [1962] 1 CH 35