Employment Related Securities Bulletin 53 (August 2023)
Find out about the Save As You Earn (SAYE) bonus rates and early leaver rates that apply from 18 August 2023.
Save As You Earn (SAYE) Bonus Rates from 18 August 2023
Following the launch of the new SAYE bonus rates automatic mechanism and specimen Save As You Earn (SAYE) prospectus as set out in Bulletin 51, new SAYE bonus rates and early leaver rate will apply from 18 August.
These will be:
- 3 year bonus rate: 1.1
- 5 year bonus rate: 3.2
- early leaver rate: 1.42%
This is the first time new participants will receive a bonus since 2014.
Going forward, the rates will change on the 15th day following a change in the Bank of England Bank Rate. The next date the Bank of England may be expected to change the Bank Rate is 21 September.
HMRC will not routinely provide updates within Bulletins. However, the bonus rates, early leaver rate and the effective date of any change will be recorded in change in bonus rates for Save As You Earn (SAYE) Share Option Schemes.