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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Schedule 2 share incentive plan (SIP): Shares that may be awarded: Permanent Interest Bearing shares (PIBs)

Permanent Interest Bearing Shares (PIBS) are a form of building society share introduced in 1990. PIBS may be used in a Schedule 2 SIP, provided they constitute ordinary share capital within Section 989 ITA 2007.