Following the announcement of a review of the Save As You Earn (SAYE) Bonus Rate Mechanism, HM Revenue and Customs (HMRC) are consulting with administrators of SAYE schemes and their representatives to identify options to introduce a new, simpler and more transparent mechanism. HMRC is working closely with those groups to ensure any new mechanism will be appropriate for both current and future market conditions. HMRC will provide a further update on the review for interested groups in due course.