Annual returns for Employment Related Securities (ERS) share schemes for the tax year ending 5 April 2022 need to be filed with HMRC by 6 July 2022.

If your company has a registered employee share scheme with HMRC, you will need to submit and file an annual return.

Which ERS share schemes need an annual return?

The following ERS schemes require you to submit an annual return to HMRC:

  • Enterprise Management Incentive (EMI) scheme (even if the scheme has been inactive during the year) and in respect of any taxable share awards to directors or employees
  • Company Share Ownership Plan (CSOP)
  • Save As You Earn (SAYE)
  • Share Incentive Plan (SIP)
  • Any other arrangement under which a director or employee has received shares or share options

If you have no outstanding options under a registered ERS scheme or if there has been no activity in the 2021/22 tax year, you will still be required to a ‘nil return’ to HMRC.

Please be aware, HMRC will not issue any reminders to you. However, they will still impose penalties if returns are not submitted by 6 July 2022. If returns remain outstanding after this date, further penalties will also apply.

If you would like Ellacotts to prepare and file your return on your behalf, please get in touch with our Tax Partner, Ann Bibby at abibby@ellacotts.co.uk or contact us here. We would be delighted to help you. Please allow plenty of time for the return to be prepared and submitted by the deadline.

We have a dedicated and expert Tax team that can help your business submit and file tax returns to HMRC on your behalf. We are specialists in a number of complicated tax matters for both businesses and personal affairs. This includes ERS share schemes, Corporation Tax, Income Tax and Capital Gains Tax.

Read more information about share schemes and employee benefits.

Information for readers: This material is published for the information of clients. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material can be accepted by the authors or the firm.