RPSM05101040 - Technical Pages: Contributions and tax relief: Member contributions: Overview: Transfers of certain shares

Transfers of certain shares from SAYE option schemes or share incentive plans

The transfer of certain shares by a member into a registered pension scheme can be treated as a contribution on which tax relief may be given.

The shares must be shares

• which the member acquired on exercising a right under a SAYE option scheme (as defined in section 516 ITEPA 2003) or
• which were appropriated to the member under the provisions of a share incentive plan (as defined by section 488 ITEPA 2003).

The shares must be transferred to the pension scheme within a set period. This is

• for shares in a SAYE option scheme 90 days after the member exercised their right to acquire the shares, and
• for shares in a share incentive plan 90 days after the member directed the trustees of the share incentive plan to transfer ownership of the shares to the member.

The value given to the contribution for tax relief purposes is the market value of the shares at the date they were transferred to the pension scheme.