Table comparison of tax-advantaged (HMRC approved) share schemes

Produced by a Tolley Employment Tax expert

Employment Tax

Guidance

The following table summarises the main requirements, similarities and differences between the four current tax-advantaged or ‘HMRC approved’ share schemes. Further details including legislative background and HMRC guidance is supplied on the individual guidance notes covering each type of scheme. For details of potential corporation tax reliefs on share schemes, see the Relief for employee share schemes guidance note.

	Share Incentive Plan (SIP)	Savings Related Schemes (also known as ‘SAYE’ or ‘Sharesave’)	Company Share Option Scheme (CSOP)	Enterprise Management Initiatives (EMI schemes)
Basic scheme description	Employee obtains tax and NIC relief when buying employing company’s shares (‘partnership shares’). The company may also offer ‘free’, or ‘matching’ shares, income tax free. Shares are normally

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