End of SAYE and EMI holidays

HMRC’s Employment-related Securities Bulletin 41 highlights the end of the following coronavirus-related relaxations:

• Covid-19 easement for Save As You Earn (SAYE): which allowed participants in SAYE schemes to pause their contributions without causing the savings contract to be cancelled. The easement will not apply for new contracts entered into from 6 April 2022.
• Covid-19 easement for enterprise management incentives (EMI): which disregarded reductions in working time for the purposes of EMI. From 6 April 2022 all employees participating in an EMI plan must meet the working time requirements.