Are you an employer in the UK with an Employee Share Plan?

UK tax reporting rules require all share options and share awards to be reported to HM Revenue & Customs (HMRC) at the end of each tax year.

UK tax reporting rules require all share options and share awards to be reported to HM Revenue & Customs (HMRC) at the end of each tax year. The reports for the 2014/15 tax year, ending on 5 April 2015, are due for submission by 6 July 2015.

What’s changing?

This year’s reports must be filed online. This requires an initial registration and then a submission process.

The registration could take up to 10 days to process
Therefore, the sooner you take action to register, the better.

Which share plans must we report?

The online registration and reporting applies to all types of share plans, approved and unapproved. Where you have the following, you will need to register:

  • Enterprise Management Incentives (EMI)
  • Unapproved Options or Share Awards
  • Restricted Stock Units
  • Stock Appreciation Rights
  • Employee Share Purchase Plans
  • Share Incentive Plans

Who should register?

The employer will need to make the appropriate online registration. Where authorised to do so, F&L can handle this obligation on your behalf.

What if we miss the deadline?

Failure to submit registrations and obtain reference numbers from HMRC before 6 July 2015 could result in penalties and/or the loss of tax relief for EMI.

For more information on the registration process, employee share plans or related securities, please contact a representative below:

Kiki Stannard
Partner
+44 (0)20 7430 5913
kstannard@fitzandlaw.com

Carla Graves
Director
+44 (0)20 7430 5936
cgraves@fitzandlaw.com

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