Income Tax (Earnings and Pensions) Act 2003 section Schedule 3 paragraph 23

Requirements as to linked savings arrangement: introduction

Schedule 3 paragraph 23 introduces the requirements that an SAYE option scheme must meet in relation to linked savings arrangements.

  • An SAYE (Save As You Earn) option scheme must comply with specific requirements concerning linked savings arrangements
  • Payments made for shares under the scheme must be linked to approved savings arrangements
  • There are separate requirements governing the level of contributions employees make into those savings arrangements
  • These two sets of requirements are detailed in paragraphs 24 and 25 of Schedule 3 respectively

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