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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

From
HM Revenue & Customs
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Schedule 2 Share Incentive Plan (SIP): Eligibility: Participation in more than one Schedule 2 SIP in the same tax year

An employee may participate in a Schedule 2 SIP in the same tax year in which he or she has already participated in one or more other approved Share Incentive Plans established by the same company or by a connected company (paragraph 18A). In this case, the individual limits for free shares (see ETASSUM24120), partnership share deductions (ETASSUM24330) and dividend reinvestment (ETASSUM24720) apply across all the connected Schedule 2 SIPs as if they were one plan.

There is nothing in the SIP Code which prevents an individual from participating in more than one Schedule 2 SIP, simultaneously or consecutively, where the establishing companies are not connected.