Income Tax (Earnings and Pensions) Act 2003 Schedule 3 paragraph 33

Exercise of options: reaching specified age without retiring

Paragraph 33 of Schedule 3 previously dealt with the exercise of SAYE share options when an employee reached a specified age without retiring, but has been repealed.

• This paragraph has been fully repealed and is no longer in force
• The repeal was made by Finance Act 2013, Schedule 2, paragraph 11
• The paragraph previously addressed situations where SAYE option holders reached a specified age but had not yet retired
• Any relevant rules on exercising options on reaching a specified age should now be considered under the broader amended provisions of Schedule 3