Annual reporting for tax-advantaged share schemes

Produced by Tolley in association with

Employment Tax

Guidance

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 tax reliefs. It is commonly raised as an issue in due diligence exercises, which can delay company transactions and reorganisations.

It is therefore essential that companies operating these types of schemes are familiar with and fulfil their compliance obligations. HMRC has no obligation to issue reminders to a company about making its annual return(s). It is therefore important that the company is prepared to make the annual

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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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