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Change in bonus rates for Save As You Earn scheme.

Publication: M2 Presswire
Publication Date: 31-AUG-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-31 August 2007-UK Government: Change in bonus rates for Save As You Earn scheme(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:31082007

HM Treasury has today announced changes in the bonus rates for the Save As You Earn (SAYE) (Sharesave) scheme that will maintain SAYE in line with other interest rates.

SAYE is one of four tax-advantaged schemes administered by HMRC and is part of the Government's initiative to promote wider employee share ownership across the UK.

The bonus rates were last changed on 1 September 2006. The new bonus rates from 1 September 2007 will be:

Contract Bonus Rate(Previous rates Effective interest Type in brackets) rate(Previous rates in brackets) 3 year 2.4 x value of employee's 4.23%(3.19)% monthly payments(1.8) 5 year 7.2 x value of employee's 4.48%(3.46)% monthly payments(5.5) 7...



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