HMRC has announced in the HMRC Employment Related Securities Bulletin 43 published on 16 June 2022 that it is reviewing the mechanism used to calculate SAYE option scheme bonus rates with a view to simplifying the way in which bonus rates are calculated. As noted by HMRC in Bulletin 43, "the current mechanism is extremely complex".
While the review is in progress, rates will remain at 0%.
In the meantime, a new SAYE savings prospectus comes into force on 30th June 2022. The new prospectus removes the reference to the current bonus rate mechanism.
The old prospectus (dated 6 April 2022) applies to invitations sent to employees before 30 June 2022, if an application is returned by the employee within 30 days of 30 June 2022.
HMRC has committed to providing an update on its review of the bonus rate mechanism through a further bulletin before the end of the summer.
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