Online reporting for share schemes

Produced by Tolley in association with

Employment Tax

Guidance

As part of its monitoring process, HMRC requires employers that operate share schemes to make returns on an annual basis.

Since tax year 2014/15, online reporting is used and no paper forms are used for reporting currently.

FA 2014, Sch 8 inserted into ITEPA 2003 provisions for automatic penalties in relation to late filing of all annual returns for employment-related securities (whether under a tax-advantaged scheme or not).

FA 2014, Sch 8 also included provisions allowing HMRC to charge penalties of up to £5,000 for material inaccuracies in returns where these are either careless or deliberate, or otherwise not corrected as quickly as possible after they come to light.

Commencing online reporting

The Employment

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