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ARTICLE · 23 JULY 2024

SAYE – Back On The Agenda

William Fry LLP
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Up to its exit from the Irish market, Ulster Bank was the last remaining licensed savings carrier for the purposes of operating Save As You Earn (SAYE) incentive schemes in Ireland.

IrelandTax
Colm Manning
Colm Manning
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Up to its exit from the Irish market, Ulster Bank was the last remaining licensed savings carrier for the purposes of operating Save As You Earn (SAYE) incentive schemes in Ireland.

As a result, employers have for a number of years been unable to offer new SAYE schemes to their employees.

However, recent indications are that is due to change as a financial institution may be seeking Revenue authorization as a licensed savings carrier, thereby enabling companies to continue offering SAYE schemes. This is a welcome development for employers as an additional means of attracting and retaining talent in a competitive market.

SAYE schemes allow employers (often UK-listed and Irish-listed public companies) grant share options to employees on a favorable tax basis. Key features of SAYE schemes include:

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