ETASSUM23210 - Schedule 2 share incentive plan (SIP): Shares that may be awarded: Permanent Interest Bearing shares (PIBs)

This guidance is withdrawn with effect from 6 April 2019.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 2 SIP, provided they constitute ordinary share capital within Section 989 ITA 2007.