Income Tax (Trading and Other Income) Act 2005 section 706

Withdrawal and variation of certifications and connected requirements

Section 706 deals with the powers of the Commissioners to withdraw or vary the requirements for SAYE (Save As You Earn) arrangements and to withdraw any related certifications.

• The Commissioners may withdraw the requirements for any description of SAYE arrangements and any certification made by reference to those requirements, or they may vary those requirements and withdraw the related certification.
• Any withdrawal or variation is only effective if the Commissioners specify the date it takes effect and give at least 15 days' notice to the authorised provider before that date.
• A withdrawal or variation does not affect the operation of the arrangement or any contracts made under it before the effective date.
• Where the notice so provides, certain descriptions of contracts made after the effective date may also be protected from the effects of the withdrawal or variation.