Autumn Statement 2013: The government has announced that it will increase the limits for share plans from April 2014.
The limits on sharesave schemes will double from £250 a month to £500.
In addition, the maximum value of shares an employee can acquire with tax advantages through share incentive plans (Sips) will increase by £300 a year to £1,800 for partnership shares and to £3,600 a year for free shares.
Phil Hall, special adviser to IFS Proshare, said: “This is absolutely fantastic news.
“Millions of employees will benefit from being able to save and invest more for their own futures, thousands of employers will benefit from all the associated benefits that come from increased employee participation in share schemes and ultimately the UK economy will benefit overall.”