SCHEDULES

SCHEDULE 8Employee share schemes

PART 2SAYE option schemes

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

137

In section 697 (PAYE: enhancing the value of an asset) in subsection (4)—

a

in paragraph (a) omit the words from “Schedule 3” to the second “or”,

b

after paragraph (a) insert—

aa

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

c

in paragraph (b) for “such a scheme” substitute “ a scheme mentioned in any of the preceding paragraphs ”.