SAYE scheme - Possible TUPE

J1230987

Hi wonder if anyone could help me with an issue that I could have. I have a SAYE scheme maturing next year but there is a possible chance I could be being TUPE over to another company. What would happen to my shares if I get TUPE over before the share save scheme mature? Would I be able to finish off the scheme so I can take advantage of the scheme? Any help on this matter would be a great help. 

DullGreyGuy

https://www.gov.uk/hmrc-internal-manuals/employee-tax-advantaged-share-scheme-user-manual/etassum35370

As above, you should be exited but have a right for early exercise of your options. 

Brie

I doubt the fact that you might be TUPEd has any relevance (happy to be corrected) but the SAYE scheme should be fine but may well finish earlier than you had planned.  Effectively you will be leaving your employer as a "good leaver" the same as if you had retired rather than having chosen to leave their employ.

I had 3 SAYEs in progress when made redundant by my employer earlier this year.  All 3 were meant to run for some time to come (2+ years).  Instead they will all end in January as that is 6 months after I became redundant.  During this 6 months I am still able to make payments into them the same as when I was employed except now the money comes direct from my bank rather than being deducted from my pay.   At the end of January I will have the opportunity to exercise my share purchase option or take the cash accumulated.  I expect I will exercise the purchase and either sell immediately or transfer the shares somewhere to wait for the market to better recover from it's current down turn.  

All of this information should be available to you on your company website or in the SAYE information that has been provided.  

DullGreyGuy

Brie said:

I doubt the fact that you might be TUPEd has any relevance (happy to be corrected) but the SAYE scheme should be fine but may well finish earlier than you had planned.  Effectively you will be leaving your employer as a "good leaver" the same as if you had retired rather than having chosen to leave their employ.

It does as the fact that TUPE (and redundancy) are explicitly required to offer 6 months whereas "good leaver" can be less than 6 months. 

The rules for a non-TUPE transfer appear more complex but as not relevant here didnt bother reading them all. 

J1230987

Thanks for your response.