ETASSUM35430 - Schedule 3 SAYE option schemes: Requirements relating to share options: Exercise rights: Whether employment has ceased

Whether an employment has ceased is a question of fact however it is recommended that scheme rules include a definition of when scheme related employment ends. In the event of any dispute, scheme advisors should normally let the company and the employee settle this question without involving HRMC. When a woman is absent from work on maternity leave it is a question of fact whether her employment has ceased or not. A woman on maternity leave who has a statutory right to return to work remains an employee for the purposes of Schedule 3.