The following Employment Tax guidance note Produced by Tolley in association with Karen Cooper and Jeremy Cavendish, Cooper Cavendish LLP provides comprehensive and up to date tax information covering:
This guidance note provides practical information about the registration and declaration (also known as ‘self-certification’) requirements for companies operating any of the following types of tax-advantaged share schemes:
share incentive plan (SIPs)
save as you earn schemes (SAYE schemes)
company share option plans (CSOPs)
enterprise management incentive schemes (EMI schemes)
It also covers the notification of grant on EMI options.
Any company operating a tax-advantaged share scheme is required to register the scheme with HMRC using HMRC’s employment related securities (ERS) online service.
The company must also make an annual return in respect of such scheme by 6 July following the end of each tax year during the life of the scheme and, in respect of certain tax-advantaged arrangements, make an annual declaration (also known as ‘self-certification’) that the scheme continues to satisfy the relevant statutory requirements. See the Annual reporting for tax-advantaged share schemes guidance note for more information about the annual returns process.
Before a company can register its tax-advantaged share scheme, it must be registered to use HMRC online services. HMRC advises that it can take up to seven days for a company’s login details to be generated, so if the company has an approaching deadline, it should register without delay.
Information on how a company registers for HMRC online services can be found on the GOV.UK website. The company should be aware that in order to use HMRC’s online services, it needs to register for an ‘online Government Gateway Account’ and then enrol for the relevant service(s) it requires to use (eg PAYE for employers). If the company does not have a Government Gateway account it should create one using the HMRC portal.
If a company has used the online tax registration service to register for corporation tax, PAYE for employers or VAT, an online Government Gateway account will have been created for the company as part of that process.
If the company
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