Income Tax (Earnings and Pensions) Act 2003 Schedule 3 paragraph 16

Meaning of "associate": trustees of discretionary trust

Schedule 3 paragraph 16 previously defined when trustees of a discretionary trust would be treated as "associates" for the purposes of SAYE option schemes, but this provision has been repealed.

• This paragraph originally dealt with the meaning of "associate" in relation to trustees of discretionary trusts within SAYE option scheme rules.
• The entire paragraph was repealed by Finance Act 2013, Schedule 2, paragraph 41.
• The repeal formed part of wider changes to the tax-advantaged share scheme legislation introduced by Finance Act 2013.
• Any relevant provisions concerning associates in relation to current SAYE option schemes should be sought in the replacement legislation introduced by Finance Act 2013.