Point in time view as at 22/07/2020.
Income Tax (Earnings and Pensions) Act 2003, Paragraph 44 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
44(1)The plan must provide for qualifying employees to enter into agreements with the company (“company A”) under which—U.K.
(a)the employee authorises the employer company to deduct part of the employee’s salary for the purchase of partnership shares, and
(b)company A undertakes to arrange for partnership shares to be awarded to the employee in accordance with the plan.
(2)Such agreements are referred to in the SIP code as “partnership share agreements”.
(3)In sub-paragraph (1) “the employer company” means the company by reference to which the employee meets the employment requirement in relation to the plan.
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