Income Tax (Earnings and Pensions) Act 2003 section 13

Eligibility of individuals: introduction

Section 13 introduces the eligibility requirements that a Share Incentive Plan must satisfy in relation to individual participants.

  • A SIP must meet specific plan requirements governing when individuals become eligible to participate
  • Participants must satisfy an employment requirement as a condition of eligibility
  • Individuals must not participate simultaneously in connected SIPs operated by associated companies
  • Rules also govern successive (back-to-back) participation in connected SIPs

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