ESSUM34130 - Linkage to Savings (Arrangement): Certified SAYE savings arrangement

The related savings contract must be under a certified SAYE savings arrangement which has been approved by HMRC for the purposes of Schedule 3.

Paragraph 48(1) defines “certified SAYE savings arrangement” as having the meaning given by Section 703(1) of ITTOIA 2005. These are arrangements under which an individual who is eligible to participate in an approved SAYE share option scheme enters into a contract to make periodical contributions for a specified period for the purpose of being able to participate in that scheme. Section 705 of ITTOIA requires such arrangements to have been certified by the Commissioners for HMRC.

Further information concerning organisations that have received certification can be provided on application to the Employee Shares & Securities Unit.