Thanks Gary for your comment: however as the option itself is valuable (albeit to a lesser extent than a straight share award) there is a potential exposure to a tax charge - as with awards of share schemes outside of a deal context which in all but a few exceptions attract tax upfront. Hence my curiosity as to why people may not have commissioned the work or presumed a £nil valuation (for context, this is where searchers are given an award of sweet equity, rather than what they bought in at) - were they simply advised that it was not necessary?

Thx ^redacted‌. So many different variables to the deal structure which can affect the valuation & also the tax treatment. There isn’t a golden rule. If you have a specific case then feel free to message me and I’ll put you in touch with one of our accountancy firms who can advise on the specifics redacted