The measure
Save as you Earn (SAYE) plans are all employee share option
plans approved by HMRC.
A number of procedural changes are being made in relation to the
rate of tax free bonus payable under the SAYE plan. The most
significant change relates to situations where the bonus rate
changes between the initial invitation to employees to participate
in the plan and the employee signing up to the plan.
Currently, where this occurs, the employee's application is,
strictly, invalid as the invitation reflects the old bonus rate
which has been withdrawn. Going forward however, HMRC will be able
specify that the old rate will be applicable to any applications
received within 30 days of the date of the change.
