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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Schedule 3 SAYE Option Scheme: General requirements: No discouraging features

  • Paragraph 6(3) imposes additional general requirements on Schedule 3 SAYE share option schemes, to ensure that such schemes are operated on a genuinely all-employee basis. There must not be any features in all-employee schemes which would discourage any description of employees e.g. low-paid from participating.
  • Features which may discourage low-paid employees, such as setting a minimum monthly savings limit, are also covered by other statutory requirements. For example, paragraph 25(3)(b) requires SAYE share option schemes to set a minimum savings amount of no more than £10 per month.