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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Schedule 2 share incentive plan (SIP): Supplementary and defined terms: ’Relevant employment’

“Relevant employment” means employment with the establishing company or an associated company (see ETASSUM28120). A participant does not cease to be in relevant employment until he/she is no longer employed by any such company (paragraph 95(3)). Therefore, when an employee who is transferred from one company in a group (see ETASSUM28200) to another which is also an associated company of the establishing company, his/her plan shares do not cease to be subject to the plan but remain in the Schedule 2 SIP.