Treasury adjusts SAYE Sharesave bonus rates

The Treasury has announced changes in the bonus rates for the Save As You Earn (SAYE) Sharesave scheme that will bring the rates into line with other interest rates. At the same time, it is introducing a new mechanism to ensure that in the future, bonus rates automatically adjust to interest rate changes. The Sharesave scheme offers employees to buy their company's shares at a future date at a discount of up to 20% off the current share price. The employee then saves between £5 and £250 per month out of taxed pay on a three, five or seven years contract with the option to buy the shar...