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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

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HM Revenue & Customs
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Schedule 3 SAYE option schemes: Requirements relating to share options: Exercise rights: Whether employment has ceased

Whether an employment has ceased is a question of fact however it is recommended that scheme rules include a definition of when scheme related employment ends. In the event of any dispute, scheme advisors should normally let the company and the employee settle this question without involving HRMC. When a woman is absent from work on maternity leave it is a question of fact whether her employment has ceased or not. A woman on maternity leave who has a statutory right to return to work remains an employee for the purposes of Schedule 3.