Part 6Exempt income
Chapter 4SAYE interest
702Interest under certified SAYE savings arrangements
1
No liability to income tax arises in respect of interest payable under a certified SAYE savings arrangement.
2
In this section “certified SAYE savings arrangement” has the meaning given in section 703(1).
3
Subsection (1) is subject to—
a
section 707(1) (which requires the providers of certain arrangements to be authorised), and
b
paragraph 7 of Schedule 12 to FA 1988 (application of exemption on change of status of building society).
4
In this Chapter “interest” includes any bonus.