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Employment-Related Securities Bulletin

Employment-Related Securities Bulletin PAYROLL

HMRC has published the latest issue of their bulletin entitled Employment-Related Securities (ERS). The bulletin is intended to provide information and updates on developments relating to employment-related securities, including the tax-advantaged employee share schemes.

There are a number of government approved share schemes which offer tax advantages to employees. The approved schemes are: Share Incentive Plans (SIPs), Save As You Earn (SAYE) schemes, Company Share Option Plans (CSOPs) and Enterprise Management Incentive (EMI) schemes.

Since April 2015, all information returns must be filed online. Employers that don’t submit annual returns on-time run the risk that they and /or their employees may lose any tax advantages from the scheme.

All companies that registered a share scheme online for the tax year 2016-17 should submit an online annual return by 6 July 2017. If a return remained outstanding after this date then an automatic late filing penalty of £100 will be issued. If the return remains outstanding on 6 October 2017 a further automatic penalty of £300 will be issued. There are further penalties after six and nine months.

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