Save As You Earn:Written question - 128045

Asked by Dr David Drew
Asked on: 19 February 2018
HM Treasury
Save As You Earn
To ask Mr Chancellor of the Exchequer, whether he has made an assessment of the potential merits of postponing the implementation of the Save As You Earn contributions holiday change scheduled to begin on 6 April 2018 to allow a longer preparatory period for the share plan industry to undertake IT and software changes and testing; and if he will make a statement.
Answered by: Mel Stride
Answered on: 27 February 2018

The government announced at Autumn Budget that it would extend the Save As You Earn (SAYE) contributions holiday from 6 to 12 months for those on maternity and parental leave from 6 April 2018. After receiving representations from the share plan industry, the government is delaying the implementation of this change until 1 September 2018 to allow for software changes and testing.

The government will from the same date extend the SAYE contributions holiday to 12 months for all SAYE plans. This change will extend the benefit to all SAYE participants.

Grouped Questions: 128047 | 128049

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