Paragraph 26
United Kingdom
For the purposes of this Schedule repayments under a F1certified SAYE savings arrangement may be taken as including, or as not including, a bonus.
The bonus may either be the maximum bonus under that F2arrangement or a lesser bonus.
An SAYE option scheme must require the question whether repayments are to be taken as including bonuses to be determined at the time when share options are granted.
Annotations
Textual amendments
- F1
Words in Sch. 3 para. 26(1) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(9)(b) (with Sch. 2)
- F2
Word in Sch. 3 para. 26(2) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(9)(c) (with Sch. 2)
Notes on Schedule 3
Textual amendments
- F1
Word in Sch. 3 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 103, 146 (with Sch. 8 paras. 147-157)
Notes on Part 5
Textual amendments
- F1
Word in Sch. 3 Pt. 5 heading substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(5)(a) (with Sch. 2)
Notes on Repayments under a savings arrangement : whether bonuses included
Textual amendments
- F1
Word in Sch. 3 para. 26 heading substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(9)(a) (with Sch. 2)