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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Schedule SAYE Option Scheme: Eligibility of individuals to participate: The employment requirement: Full-time directors and employees

Full-time director is not defined in the legislation. HMRC accept that schemes which define a full-time director by reference to a working week in excess of 25 hours (excluding meal breaks) would meet the requirements of paragraph 6(2)(a). Hours worked for several constituent companies may be aggregated. There is no working hours requirement in respect of employees and scheme rules will not be acceptable that specify an hours requirement for employees. All employees both part-time and full time must be invited to participate.