Save As You Earn (SAYE) schemes, a tax-efficient employee share option program in Ireland, are now available again after several years, thanks to the entry of a new licenced savings carrier. SAYE allows employees to acquire company shares at a fixed price, with gains exempt from income tax (up to 40%) and offers employers PRSI exemptions, tax-deductible setup costs, and a tool for talent retention. Additionally, other tax-efficient schemes like Approved Profit Sharing Schemes (APSS) and restricted share plans provide further opportunities for companies to incentivize and retain employees through tax-advantaged equity awards.

Computershare has partnered with AIB to provide an Irish "Save As You Earn" (SAYE) programme, allowing clients to use AIB as a savings carrier for their approved SAYE schemes. The SAYE plan enables employees to save a portion of their net pay to purchase shares in their company, with the option price often discounted by up to 25%. This flexible plan offers employees the ability to profit from company performance while minimizing share price risk, as they can choose to take their savings back if share prices do not rise.

Lawyers at McCann FitzGerald recommend employers reconsider offering a Revenue-approved Save As You Earn (SAYE) scheme due to its risk-free, tax-efficient savings and share purchase options for employees, which can enhance engagement and retention. Despite the decline in SAYE savings carriers in Ireland post-Brexit, a new licensed provider is expected to be announced soon. SAYE schemes allow employees to save between €12 and €500 monthly for three to seven years, with the option to buy company shares at a discounted rate, and if they choose not to buy, their savings are returned tax-free.