Annual reporting for tax-advantaged share schemes

Produced by Tolley in association with

Employment Tax

Guidance

STOP PRESS: The remittance basis is abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. The legislation is included in FA 2025. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

If a company is operating any type of share scheme or arrangement (including EMI), they must make an online annual return by 6 July after the end of the tax year in which the scheme or arrangement was registered, and then each year during the life of the scheme or arrangement. This includes where the company is making a nil return.

HMRC’s 6 July deadline is a strict one and failure by a company to make the relevant annual return and / or declaration will have serious consequences, including penalties and, in respect of certain tax-advantaged schemes, the loss of associated

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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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