Annual reporting for non-tax advantaged share schemes

Produced by Tolley in association with

Employment Tax

Guidance

Annual returns

Companies operating any type of share scheme or arrangement involving employment related securities (ERS) are required to make an online annual return by 6 July after the end of the tax year in which the scheme or arrangement was registered, and each tax year during the life of the scheme or arrangement. This includes where the company is making a nil return (see below).

HMRC’s 6 July deadline is a strict one and failure by a company to make the relevant annual return will have serious consequences, including penalties. Late filing of ERS annual returns is commonly raised as an issue in due diligence exercises, which can delay company transactions and reorganisations.

It is therefore essential that companies operating non tax-advantaged share schemes, or arrangements such as making awards of shares or other securities to employees, directors or other office holders, are familiar with and fulfil their compliance obligations. For more information on the requirement to register share schemes and arrangements, please see the Registration

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Helen Wood

Founder, HLN WD TX , Employment Tax

Helen Wood is the founder of HLN WD TX, a share schemes and employee incentives advisory business.She qualified as a CA with ICAS in 2009 and has worked as a specialist reward and incentives advisor for 17 years, spending 13 of those at KPMG followed by 3 ½ years as an Associate Director at RSM. Helen has worked with businesses ranging from start-ups to fully listed companies, spanning owner-managed businesses, private equity portfolio companies, and AIM listed businesses.She advises on a wide range of employee share schemes and employment related securities matters including the design and implementation of effective management and employee incentives; tax valuation of employment related securities, buy and sell side transaction support, HMRC compliance, tax due diligence and employee ownership trust transactions.

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