CSOP—self certification, registration and filing requirements
CSOP—self certification, registration and filing requirements

The following Share Incentives practice note provides comprehensive and up to date legal information covering:

  • CSOP—self certification, registration and filing requirements
  • Legislation governing CSOPs—self-certification, registration and filing requirements
  • HMRC approval process up to 6 April 2014
  • Self-certification and registration regime since 6 April 2014
  • Self-certification—notice and timing
  • Signing up for the self-certification regime
  • HMRC power to enquire into an CSOPs
  • Outcome of an HMRC enquiry
  • Decision that the scheme is no longer to be a Schedule 4 CSOP scheme
  • Decision that the legislative requirements need to be met within 90 days
  • More...

This Practice Note covers the following topics:

  1. legislation governing CSOPs—self-certification, registration and filing requirements

  2. the HMRC approval process up to 6 April 2014

  3. the self-certification and registration regime since 6 April 2014

  4. self-certification—notice and timing

  5. signing up for the self-certification regime

  6. HMRC power to enquire into an CSOPs

  7. outcome of an HMRC enquiry

  8. HMRC general power to require information

  9. annual return filing requirements

  10. common ERS annual return errors

  11. penalties and appeals, and

  12. amending annual returns

For more general information regarding CSOPs, see Practice Note: How CSOPs work and key features.

Legislation governing CSOPs—self-certification, registration and filing requirements

The legislation governing the self-certification, registration and filing requirements for CSOPs is contained in paragraphs 28A–28K of Schedule 4, Part 7, and paragraph 33 of Schedule 4 Part 8 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003).

HMRC approval process up to 6 April 2014

Until 6 April 2014, in order to qualify for beneficial tax treatment as a CSOP, a scheme first had to be reviewed and approved by HMRC as meeting the requirements of the CSOP legislation. The company operating the scheme was therefore obliged to apply to HMRC in writing for this approval and HMRC was required to approve the scheme if it met all requirements of the CSOP legislation. These approvals were made by the HMRC Employee Share Schemes Unit (ESSU).

There is no requirement

Popular documents