Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Shares definition

What does Shares mean? In company law practice, a share is a unit of a member’s interest in a company, carrying the rights and obligations attached to its class (for example, voting, dividends and return of capital on a winding up). The Companies Act 2006 simply states that a share is a share in a company’s share capital; the Irish Companies Act 2014 adopts a broadly equivalent approach. Usage and effect are consistent across England & Wales, Scotland, Northern Ireland and Ireland. A company’s share capital comprises the number of shares it allots and issues to investors on or after incorporation. Those...

Company Share Option Plan (CSOP) and Save As You Earn (SAYE): UK statutory conditions, eligibility, HMRC self-certification, operation and tax reliefs - a guide for corporate lawyers

Published by a LexisNexis Corporate expert

Practice notes

This Practice Note describes:

the kinds of option that can be granted under a tax-advantaged Company Share Option Plan (CSOP) and a tax-advantaged Save As You Earn (SAYE) scheme
the statutory requirements that CSOP options and SAYE scheme options must meet to obtain the available tax advantages
the tax benefits associated with CSOP options and SAYE scheme options

CSOP options and SAYE scheme options are forms of tax-advantaged employee share option that allow the holder to call for the relevant Shares in a company (the Scheme Company) covered by the option at a later date, at a price (the option price) set when the option is granted. A CSOP or SAYE scheme created by a parent company in a group can be extended to any or all companies within that group...

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Graham Muir

CMS

Graham Muir is a partner in CMS tax team with a 25-year track record of specialism in employee incentive scheme and employment tax issues.Graham advises quoted and unquoted companies on structuring, establishing and operating all forms of employee incentive scheme. He advises on the employer and employee tax, company law, corporate governance and regulatory issues arising out of such schemes (whether share based or cash based).Graham was a founder member of the HMRC Employment-related Securities Forum, is a member of the Consulting Tax Editorial Committee of LexisNexis and is Co-Chair of the Tax Committee of the Share Plan Lawyers group....

Web page updated on 22/05/2026

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