All employee share schemes insights

8th April 2020

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The QCA’s Share Schemes Expert Group has put together some information for QCA member companies to help you navigate the current COVID-19 crisis in relation to all-employee share schemes

The note explains the range of possibilities available to companies operating tax-advantaged Save As You Earn plans (SAYE) and Share Incentive Plans (SIP), which you may wish to consider during the pandemic. It includes:

Save As You Earn plans

  • Can employees change the amounts they contribute?
  • Can employees 'pause' the amounts they contribute?
  • Can employees withdraw their savings?
  • Can employees who are 'furloughed' under the Government's Coronavirus Job Retention Scheme continue to participate in SAYE?

Share Incentive Plans

  • Can employees change and/or 'pause' the amounts they contribute?
  • Can a company terminate the SIP?
  • Can employees who are 'furloughed' under the Government's Coronavirus Job Retention Scheme continue to participate in the SIP?

Read the full note here

We hope you find this guide useful, but please note that it is for general information purposes only and is not a substitute for specific legal advice in relation to the operation of your share plans.

If you have any comments or questions, please contact Jack Marshall.

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