Annual returns for advantaged and non-tax advantaged share plans: 6 July 2014 deadline
This is a reminder that the UK deadline for filing annual returns for tax advantaged and non-tax advantaged (formerly unapproved) employee share plans for the tax year 2013-14 is 6 July 2014.
This deadline applies to Save As You Earn share option plans, Share Incentive Plans, Company Share Option Plans, Enterprise Management Incentives arrangements, non-tax advantaged share and share option plans and also (with limited exceptions) any other acquisition of shares or interests in shares by employees or directors.
HM Revenue & Customs (HMRC) should have sent you a Notice to File but if they have not then there is still an obligation to notify HMRC of any reportable events. The relevant forms (together with guidance notes) can be downloaded from the HMRC's website for completion.
The wide ranging Form 42 must be used to report non-tax advantaged or 'unapproved' employment related securities events. These events may be one-off events HMRC do not yet know about and so have not sent you a form.
Should the forms be completed inaccurately, not returned to HMRC at all or filed after the deadline, HMRC may impose penalties.
Completed returns should be submitted to the Employee Shares & Securities Unit at: Specialist Personal Tax Employee Shares & Securities Unit Nottingham Team 1st Floor, Ferrers House Castle Meadow Road Nottingham NG2 1BB
If you have not received a Notice to File and you are concerned that you should be notifying HMRC of reportable events in the tax year to 5 April 2014, or if you require help completing a relevant return, then please contact Graeme Nuttall or Mark Gearing for assistance.
From the 2014-15 tax year onwards all annual returns for employment related securities must be submitted online and include an attachment containing the supporting information. More information can be found on HMRC's website. We shall also send further updates on this new process during the coming year.