Income Tax (Trading and Other Income) Act 2005 section 708

Withdrawal and variation of authorisations

Section 708 deals with the powers of the Commissioners to withdraw or vary the authorisation of SAYE interest providers, and the procedural requirements that must be followed.

• The Commissioners may withdraw a provider's authorisation or vary it by imposing, changing, or removing conditions
• A withdrawal or variation only takes effect if the Commissioners set a specific effective date and give the provider at least 28 days' notice (except where a variation simply removes all conditions)
• Any contracts entered into before the effective date of a withdrawal or variation remain unaffected
• A previous withdrawal or variation does not prevent the Commissioners from exercising their authorisation powers again in respect of the same provider in the future