Reminder: 6 July deadline for filing your employee share scheme returns with HMRC

24 June, 2016

Don’t forget, annual returns for employee share schemes need to be filed with HMRC by 6 July. 

Following the changes to the system brought in last year, all share schemes need to be registered online with HMRC and annual returns need to be filed online.  Remember that an obligation to file a return can arise for any share transaction involving an employee or director, for example, the award or purchase of shares or the grant or exercise of any share options.

There are automatic penalties for late filing, so given the issues that arose last year when the system crashed and many records were lost, it is probably wisest to get your returns submitted as soon as possible, particularly given the increased level of detail needed for the forms since last year.   Also, remember HMRC no longer send reminders and paper filings can no longer be made.  

Penalties can impact not just financially but on HMRC’s rating for your company too.   If you need any assistance with filings, or for anything other queries related to share schemes, please contact Craig Bowers on craig.bowers@cripps.co.uk or +44 (0)1732 224 007.