News

Richard Baxter and Constance Tait discuss the looming annual returns deadline for employee share schemes

  • June 18, 2021
  • By Richard Baxter, Partner and Constance Tait, Trainee Solicitor

Corporate clients and contacts should note that the deadline for registering new, or amended, employee share plans and filing annual returns for employee share plans is 6 July 2021.

All annual returns for 2020-21 must be filed online by 6 July 2021 and companies must have registered any annual share scheme through the government’s employment related securities online portal to do so.  Registration will take time, so businesses will need to ensure they do not miss the deadline while the registration process is completed. Companies must file nil returns for all inactive schemes and do so by the deadline in order to avoid automatic penalties.

Companies with tax advantaged schemes

Separate returns must be filed for each scheme. Companies must notify HMRC if they have amended a key feature of a company share option plan (‘CSOP’), save as you earn (‘SAYE’) option scheme or share incentive plan, including whether the amendment means the scheme no longer meets legislative requirements. Failure to register tax-advantaged schemes on time will affect the tax treatment of future or, with respect to CSOPs, current participants.

Companies with non tax-advantaged arrangements

A single return covering all arrangements or a separate return for each can be filed. HRMC offers guidance on what should be included in non tax-advantaged returns.

For specific advice on employee share schemes, or if you have questions about any other commercial or corporate issues, please contact Richard Baxter on 020 7412 0050 or richard.baxter@hunterslaw.com.    

Related News

Feb 18, 2022
Gregor Kleinknecht discusses Trademarks, Design Rights and Copyright to Promote Business Growth and Innovation in University of Buckingham Press
Feb 11, 2022
Stephen Morrall comments on what COVID rules means for workers and employers in Mail Online, This is Money, Mail on Sunday, Daily Mail and MSN Money
Jan 14, 2022
Gregor Kleinknecht comments on the General Court clarifying the law on rights of representation before EU courts in Managing IP
Nov 30, 2021
Stephen Morrall and Aman Khokhar explore how employers can best determine worker status in People Management
Nov 17, 2021
Richard Baxter examines whether Brexit creates uncertainty for online software sales agents in Reports Legal
Nov 02, 2021
Gregor Kleinknecht and Anastassia Dimmek examine the lessons learned from the cancellation of Banksy trademarks in Lawyer Monthly
Oct 20, 2021
Partner Richard Baxter is attending the FT Live’s The Banking Revolution
Oct 18, 2021
Richard Baxter and Constance Tait discuss considerations for dispute resolution and M&A scenarios
Sep 29, 2021
Richard Baxter outlines lessons for business owners from an abortive company sale and purchase transaction
Sep 22, 2021
Stephen Morrall examines worker status in the gig economy in Economy Standard

© Hunters Law LLP 2022 | Privacy NoticeLegal & Regulatory | Cookies Policy | Complaints Procedure.

Hunters Law LLP is authorised and regulated by the Solicitors Regulation Authority (number 657218)