HMRC advise that they are streamlining the share scheme approval process with a view to being able to respond to applications as quickly as possible.

The new process also aims to reduce the overall time taken to review draft documents and then give formal approval to proposed Company Share Option Plan (CSOP), Share Incentive Plan (SIP) and Save As You Earn (SAYE) schemes. To assist, when sending in schemes for review and approval agents and practitioners should follow the new process.

Details are available in full at on here.