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

Group schemes

Schedule 3 paragraph 3 explains how a parent company that controls other companies can set up a single SAYE option scheme covering the whole group or selected companies within it.

• A parent company controlling one or more subsidiaries may establish an SAYE option scheme extending to all or any of those subsidiaries.
• Such a scheme is known as a "group scheme" under the SAYE code.
• A "constituent company" means either the parent scheme company itself or any other company to which the scheme currently extends.
• Separate rules in paragraph 46 address jointly owned companies and companies controlled by them.