YBS Share Plans -SAYE seven year contract prospectus change

Under SAYE option schemes, it is currently possible for companies to offer a 7 year contract, and for employees who have completed five year SAYE contracts to retain their savings within the scheme for a further two years. The Government announced in December 2012 that this seven year feature of SAYE would be removed in 2013.

This change will be made by amending the terms of the SAYE prospectus and we now have confirmation from HMRC that the new prospectus, with the seven year option removed, is effective from today 23 July 2013.