A scheme allowing you to buy shares in your company for a fixed time period and price with a tax-free bonus.
You’re allowed to save upto £500/month for either 3 or 5 years. You’ll then receive a tax-free bonus to your savings, the interest applied will also be tax-free. Then after, you can either take the cash or buy shares in the company at the price set in the beginning.
If the shares are bought, income tax and national insurance aren’t paid. However, once the shares are sold they are liable to capital gains tax. Unless your gains are below the tax-free allowance or the profit is put into an ISA/pension.
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