{
  "url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-3/paragraph-49",
  "json_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-3/paragraph-49.json",
  "legislation": "ukpga/2003/1",
  "legislation_title": "Income Tax (Earnings and Pensions) Act 2003",
  "legislation_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003",
  "path": "schedule/3/paragraph/49",
  "kind": "paragraph",
  "number": "49",
  "heading": null,
  "text": "In the SAYE code the following expressions are defined or otherwise explained by the provisions indicated below:\n. . .\n. . .\nassociated company\nparagraph 47(1)\nthe bonus date\nparagraph 30(3)\ncertified SAYE savings arrangement\nparagraph 48(1)\nchild\nsection 721(6)\nclose company\nsection 989 of ITA 2007 ...\ncompany\nparagraph 48(1)\nconnected person\nsection 718\nconstituent company\nparagraph 3(3)\ncontrol\nsection 719 (and see paragraphs 35(4) and 47(2))\ndistribution\nsection 989 of ITA 2007\nearnings\nsection 62 and see section 721(7)\neligible shares (in Part 4 of this Schedule)\nparagraph 17(2)\nemployee and employment\nsection 4\ngroup scheme\nparagraph 3(2) (and see paragraph 46)\n. . .\n. . .\n. . .\n. . .\nmarket value\nparagraph 48(1)\nmember of a consortium\nparagraph 48(2)\nnon-UK company reorganisation arrangement\nparagraph 47A\nnotice\nsection 989 of ITA 2007\nthe options (in relation to a participant)\nparagraph 2(2)\nordinary share capital\nsection 989 of ITA 2007\nparticipant\nparagraph 2(2)\nparticipate\nparagraph 2(2)\npersonal representatives\nsection 989 of ITA 2007\nrecognised stock exchange\nsection 1005 of ITA 2007\nrestriction (in relation to shares)\nparagraph 48(3)\nthe SAYE code\nsection 516(3)\nSAYE option scheme\nsection 516(4)\nSchedule 3 SAYE option scheme\nparagraph 1 and Part 8 of this Schedule\nthe scheme organiser\nparagraph 2(2)\nshare option\nsection 516(4)\nshares\nsection 516(4)\n. . .\n. . .\n. . .\nparagraph 31\ntax\nsection 989 of ITA 2007\ntribunal\nsection 989 of ITA 2007\n. . .\n. . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 3 para. 49 Table omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 120(a), 146 (with Sch. 8 paras. 147-157)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 3 para. 49 substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 618(12) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 3 para. 49 Table substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(a) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Sch. 3 para. 49 Table substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(b) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in Sch. 3 para. 49 Table omitted (with effect in accordance with Sch. 2 para. 43 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 2 para. 42"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in Sch. 3 para. 49 Table substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(c) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Sch. 3 para. 49 entry repealed (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 122(f), Sch. 5; S.I. 2005/1126, art. 2(2)(h)(i)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Sch. 3 para. 49 Table entry repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(d), Sch. 3 Pt. 1 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in Sch. 3 para. 49 Table inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 120(b), 146 (with Sch. 8 paras. 147-157)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in Sch. 3 para. 49 Table substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(e) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in Sch. 3 para. 49 Table substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(f) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in Sch. 3 para. 49 Table substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(g) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in Sch. 3 para. 49 Table substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(h) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Words in Sch. 3 para. 49 Table inserted (with effect in accordance with Sch. 2 para. 67 of the amending Act) by Finance Act 2013 (c. 29), Sch. 2 para. 66"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Words in Sch. 3 para. 49 Table omitted (1.4.2009) by virtue of The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 347(2)"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "Words in Sch. 3 para. 49 Table omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 2 para. 13 (with Sch. 2 paras. 16, 17)"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Words in Sch. 3 para. 49 Table substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 397(6) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F18",
      "text": "Words in Sch. 3 para. 49 Table inserted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 347(3)"
    },
    {
      "type": "F",
      "label": "F19",
      "text": "Sch. 3 para. 49 Table entry repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 448(j), Sch. 3 Pt. 1 (with Sch. 2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/1/schedule/3/paragraph/49",
    "retrieved_at": "2026-10-29T09:18:42.395488+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}