Save As You Earn savings holiday extension delayed
12 March 2018
Save As You Earn (SAYE) savings holiday
Autumn Statement 2017 announced an extension to the SAYE savings holiday for employees on qualifying parental leave from 6 months to 12 months. This was due to take effect from 6 April 2018.
After receiving representations from the share plan industry, the government is delaying implementation of the extended SAYE savings holiday. This is to provide plan providers and administrators with time to make and test system changes.
The government has also announced that the SAYE savings holiday will now be extended to 12 months for all SAYE plans, not just those with qualifying parental leave. This change will take effect on 1 September 2018.
HMRC will update the SAYE prospectus and guidance in the Employee Tax Advantaged Share Scheme User Manual (ETASSUM) to reflect these changes.
The employment related securities bulletin is published by HMRC and provides information and updates as and when necessary on developments relating to employment related securities, including tax advantaged employee share schemes.
The latest employment related securities bulletin (no.26) also contains articles on:
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ERS online data
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Common issues
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Top things to remember