As part of the Spring Budget 2023 measures, the government announced it would launch a call for evidence on the non-discretionary tax advantaged share schemes Save As You Earn (SAYE) and the Share Incentive Plan (SIP). This call for evidence has now been launched and is open for comment until 25 August 2023.

The government will use the call for evidence to consider opportunities to improve and simplify the schemes.

In particular, the government is seeking views on:

• the effectiveness and suitability of the schemes and whether they are fulfilling their policy objectives;
• current usage and participation and whether there are barriers to participating in the schemes;
• whether the schemes’ rules are simple and clear as well as whether they offer enough flexibility to meet individual firms’ needs;
• whether the schemes suitably incentivise share ownership for lower income earners; and
• what other performance incentives businesses offer their employees and how these compare with SAYE and SIP.

The government is keen to ensure that the benefits of these schemes are more widely available and hope this Call for Evidence will lead to simplifying and improving the schemes.

Source: New feed