SAYE—self-certification, registration and filing requirements
SAYE—self-certification, registration and filing requirements

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

  • SAYE—self-certification, registration and filing requirements
  • Legislation governing SAYE self-certification, registration and filing requirements
  • HMRC approval process up to 6 April 2014
  • Self-certification and registration regime since 6 April 2014
  • Self-certification—notice and timing
  • Signing up for the new regime
  • HMRC's power to enquire into an SAYE scheme
  • Outcome of an HMRC enquiry
  • Decision that the scheme is no longer to be a Schedule 3 SAYE option scheme
  • Decision that the legislative requirements need to be met within 90 days
  • More...

SAYE—self-certification, registration and filing requirements

This note covers the following topics:

  1. the legislation governing SAYE self-certification, registration and filing requirements

  2. the HMRC approval process up to 6 April 2014

  3. the new self-certification and registration regime since 6 April 2014

  4. self-certification—notice and timing

  5. signing up for the new regime

  6. HMRC's power to enquire into an SAYE scheme

  7. outcome of an HMRC enquiry

  8. HMRC's general power to require information

  9. annual return filing requirements

  10. penalties and appeals, and

  11. amending annual returns

For more general information regarding save as you earn (SAYE) schemes, see Practice Note: How SAYE schemes work and key features.

Legislation governing SAYE self-certification, registration and filing requirements

The legislation governing the self-certification, registration and filing requirements for SAYE schemes is contained in paragraphs 40A–45 of Schedule 3, Part 8 to the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003).

HMRC approval process up to 6 April 2014

Until 6 April 2014, in order to qualify for beneficial tax treatment as a SAYE scheme, a SAYE scheme first had to be reviewed and approved by HMRC as meeting the requirements of the SAYE legislation. The company operating the scheme was therefore obliged to apply in writing to HMRC for this approval and HMRC was required to approve the scheme if it met all requirements of the SAYE legislation. These approvals were made by the HMRC Employee Share Schemes Unit.

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