Setting up and administering CSOPs

Produced by Tolley in association with

Employment Tax

Guidance

Introduction

A company share option plan (CSOP) requires online self-certification by the company. HMRC has provided a review document at ETASSUM47190 which is intended to enable those setting up a scheme to ensure that they do not forget to include any of the legislative requirements.

Once the scheme is in operation, an online end of year return must be submitted each year showing information such as CSOP options granted and exercised, as well as those that have lapsed during the previous 12 months and confirmation the scheme still meets the legislative requirements. See below for more on annual returns and the penalties for late filing.

Registration and self-certification

A qualifying CSOP scheme is referred to as a ‘Schedule 4 CSOP scheme’. For a CSOP scheme to qualify:

•
notice of the scheme must be given to HMRC (online) by the scheme organiser
•
that notice must contain or be accompanied by such information as HMRC may require
•
the notice must also contain a declaration that the requirements of the

Continue reading

To read the full Guidance note, register for a free trial of Tolley+™

TAKE A FREE TRIAL

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.

Popular Articles

Value Added Tax

UK VAT invoice requirements

UK VAT invoice requirementsThis guidance note provides details of the information that must be shown on a valid tax invoice. Businesses supplying goods and services that are liable to the standard or reduced rate of VAT are required to issue a tax invoice to another VAT registered person.If the

14 Jul 2020 13:46 | Produced by Tolley Read more

Personal Tax

Maintenance payments

Maintenance paymentsMaintenance payments are payments made by a taxpayer to their former or separated spouse / civil partner for the maintenance of that person or their children. To obtain any tax relief for maintenance payments, one of the couple must have been born before 5 April 1935 and the

14 Jul 2020 12:12 | Produced by Tolley Read more

Owner-Managed Businesses

Furnished holiday lets

Furnished holiday letsThis guidance note sets out the qualifying conditions for a property let to be treated as a furnished holiday let (FHL) for tax purposes and the subsequent tax implications.Whether or not a property qualifies as an FHL can make an important difference to the taxation

14 Jul 2020 11:46 | Produced by Tolley Read more

��Ƶ