Income Tax (Trading and Other Income) Act 2005

703Meaning of “certified SAYE savings arrangement”U.K.

This section has no associated Explanatory Notes

(1)In this Chapter “certified SAYE savings arrangement” means a linked savings arrangement which is certified under section 705.

(2)In this Chapter “linked savings arrangement” means an arrangement—

(a)which is of a kind specified in section 704(1), and

(b)under which an individual who is eligible to participate in [F1a Schedule 3] SAYE option scheme enters into a contract to make periodical contributions for a specified period for the purpose of being able to participate in that scheme.

(3)In subsection (2)—

  • “to participate” means to obtain and exercise rights under the scheme, and

  • [F2“Schedule 3 SAYE option scheme” has the meaning given in Schedule 3 to ITEPA 2003.]

Textual Amendments