Income Tax (Earnings and Pensions) Act 2003 Schedule 3 paragraph 13

Material interest: options and interests in SIPs

Schedule 3 paragraph 13 previously addressed how share options and interests held under Share Incentive Plans (SIPs) were treated when determining whether an employee had a material interest in a company for the purposes of SAYE option schemes, but has been repealed.

• This paragraph has been entirely repealed and is no longer in force.
• The repeal was made by Finance Act 2013, Schedule 2, paragraph 41.
• The paragraph previously dealt with the treatment of share options and SIP interests in the context of the material interest test for SAYE option schemes.
• Any guidance on material interest rules for SAYE option schemes should now be sought from the current legislation as amended.