Income Tax (Earnings and Pensions) Act 2003 Schedule 3 paragraph 11

The "no material interest" requirement

Schedule 3 paragraph 11 previously set out the "no material interest" requirement for SAYE option schemes but has been repealed.

  • Paragraph 11 of Schedule 3 has been completely removed from the legislation.
  • The repeal was made by Finance Act 2013, Schedule 2, paragraph 41.
  • The "no material interest" requirement that was formerly contained in this paragraph no longer applies.
  • Any previous restrictions based on a participant's material interest in the employing company under this provision are no longer in force.

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