Bonus rates for Save As You Earn (SAYE) schemes have been adjusted following the cut to the Bank of England base rate to 4.75%. For SAYE contracts taken out on or after 22 November 2024 the bonus rate for five-year contracts is reduced to 2.7% (from 3.0%) and for three-year contracts is reduced to 0.9% (from 1.1%). The early leaver rate is reduced to 1.17% (from 1.33%).
Methodology for calculating the amounts and a list of bonus rates based on the Bank of England base rate at the relevant time (which are expressed as a multiple of a monthly contribution) are set out in the SAYE bonus rates automatic mechanism.
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Bonus rates for Save As You Earn (SAYE) schemes have been adjusted following the cut to the Bank of England base rate to 4.75%. For SAYE contracts taken out on or after 22 November 2024 the bonus rate for five-year contracts is reduced to 2.7% (from 3.0%) and for three-year contracts is reduced to 0.9% (from 1.1%). The early leaver rate is reduced to 1.17% (from 1.33%).
Methodology for calculating the amounts and a list of bonus rates based on the Bank of England base rate at the relevant time (which are expressed as a multiple of a monthly contribution) are set out in the SAYE bonus rates automatic mechanism.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
