SCHEDULES

SCHEDULE 8Employee share schemes

PART 2SAYE option schemes

Other amendments: ITEPA 2003, Part 4 of FA 2004, ITTOIA 2005 and CTA 2009

138

In section 701 (PAYE: meaning of “asset”) in subsection (2)(c)—

a

in sub-paragraph (i) omit “Schedule 3 (approved SAYE option schemes) or”, and

b

after sub-paragraph (i) insert—

iza

any shares acquired by the employee under a scheme which is a Schedule 3 SAYE option scheme (see Schedule 3),