This is reported via an online annual tax information return. Penalties are incurred for late submissions.
Her Majesty’s Revenue and Customs (HMRC) require that employers file an annual report capturing any employment related securities schemes or arrangements that have taken place in the tax year ended 5 April. There are a number of transactions that a firm might need to report. These include:
The reporting is made via an online submission to HMRC and must be completed by 6 July every year. If an employer has not previously made an online submission, they must register with HMRC online. Employers who have made past online submissions will be required to complete a submission even if no relevant transactions took place during that tax year.
Centralis Governance, Risk & Compliance can help you to identify where you may have an obligation to report to HMRC and then assist in the completion and submission of your annual ERS returns. We aim to keep the burden on you as small as possible in this process.