SolvedETASSUM33120 | Schedule 3 SAYE option schemes: Shares to which schemes can apply: Permanent Interest Bearing Shares (PIBs)
From HM Revenue & Customs · Employee Tax Advantaged Share Scheme User Manual
This guidance is withdrawn with effect from 6 April 2019.
Please refer to ERS Bulletin 31 https://www.gov.uk/guidance/employment-related-securities-bulletin-31-march-2019#definition-of-ordinary-share-capital-for-employee-share-schemes (link is external) and /manual/company-taxation-manual/ctm00512
Permanent Interest Bearing Shares (PIBS) are a form of building society share introduced in 1990. PIBS may be used in a Schedule 3 SAYE Scheme provided they constitute ordinary share capital within Section 989 of ITA 2007.