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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Schedule 3 SAYE option schemes: Linkage to Savings (Arrangement): Certified Schedule 3 SAYE savings arrangement

The related savings contract must be under a certified Schedule 3 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 a Schedule 3 SAYE 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 2005 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.