UK News

UK annual share plan reporting due by 6 July 2014

June 2014

HMRC’s filing deadline for annual returns in relation to employment-related securities for the 2013-14 tax year is 6 July 2014. Most companies that operate share based incentive plans for their employees will be required to file an annual return, and even one-off transactions by employees involving shares or other securities will usually need to be reported. There are separate forms for tax approved and non-tax approved arrangements.

Companies that have completed a return in the past should have received a notice to file from HMRC. Even where no notice to file has been received, a company will be required to complete a return if any reportable events have occurred in relation to its UK employees.

Online registration and filing

This is the last year that annual returns will be required to be completed in paper form. From next year, annual returns will need to be completed and filed online. Companies that have previously submitted an annual return should already have received correspondence from HMRC with further details on the new online process.

As the first stage, all existing plans which involve transactions that would need to be reported on an annual return will need to be registered online with HMRC by 6 July 2015. Only once a plan has been registered will it be possible to complete the online annual return for the 2014/15 tax year. The online system already applies to the notification of any new tax approved EMI option grants.

How we can help

We can provide advice and assistance in relation to all aspects of the annual reporting requirements. For further information please contact Jonathan Fletcher Rogers on 0203 051 5711.

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