Comparison of the save as you earn (SAYE) scheme provisions of the Employee Share Schemes User Manual (ESSUM) and the Employee Tax Advantaged Share Scheme User Manual (ETASSUM) [Archived]
Comparison of the save as you earn (SAYE) scheme provisions of the Employee Share Schemes User Manual (ESSUM) and the Employee Tax Advantaged Share Scheme User Manual (ETASSUM) [Archived]

The following Share Incentives practice note provides comprehensive and up to date legal information covering:

  • Comparison of the save as you earn (SAYE) scheme provisions of the Employee Share Schemes User Manual (ESSUM) and the Employee Tax Advantaged Share Scheme User Manual (ETASSUM) [Archived]
  • Background
  • The SAYE scheme provisions—ESSUM versus ETASSUM

ARCHIVED: This archived Practice Note provides background reading on the main differences between the SAYE guidance in ESSUM and where it can now be found in ETASSUM. It also details any substantial differences in the guidance. This Practice Note illustrates the position as at December 2015 and is for background purposes only.

Background

On 28 October 2015, HMRC notified its followers of a new Employee Tax Advantaged Share Scheme User Manual (ETASSUM), which can be found on its Gov.uk website. The old guidance contained in the ESSUM is still, at the time of writing, live and can be found here.

The ETASSUM, as its title suggests, covers enterprise management incentives (EMI) schemes, company share option plans (CSOPs), save as you earn (SAYE) schemes and share incentive plans (SIPs). The ETASSUM is not yet in its final form and some of the links are, at the time of writing this Practice Note, still missing. On each page there is a feedback link which can be used to notify HMRC of problems.

The table below provides a summary of where each main SAYE provision was previously found in the ESSUM and where it can now be found in the ETASSUM. It also details any substantial differences in the guidance.

As a general rule, and as expected, the ETASSUM makes the following wholesale changes:

  1. it refers to Schedule 3 SAYE options rather

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