SCHEDULES
SCHEDULE 11 Transitional provisions for profit-related pay
Meaning of related scheme
3
1
In the case of any employee a scheme is, in relation to the affected scheme, a related scheme for the purposes of this Schedule if—
a
it was a registered scheme at any relevant time and the conditions set out in sub-paragraph (2) below are satisfied with respect to it; or
b
notice that for the purposes of this Schedule it is to be treated as a related scheme in relation to the affected scheme is given to the employee by the scheme employer for the affected scheme.
2
Those conditions are satisfied with respect to a scheme (“the relevant scheme") if a person who is the scheme employer for the affected scheme was, at a relevant time—
a
the scheme employer for the relevant scheme; or
b
connected with a person who was, at that or another relevant time, the scheme employer for the relevant scheme.
3
In this paragraph “relevant time” means any time on the day of the beginning for the employee of the relevant period or in the period of twelve months preceding that day.
4
Section 839 of the Taxes Act 1988 (connected persons) applies for the purposes of this paragraph.
5
Without prejudice to sub-paragraph (4) above, for the purposes of this paragraph—
a
each of the members of a partnership shall be regarded as connected with the partnership and with any person (including another partnership) with whom the partnership is connected; and
b
a partnership shall be regarded as connected with each of its members and with any person (including another partnership) with whom any of its members is connected.