Annual reporting for tax-advantaged share schemes

Produced by Tolley in association with

Employment Tax

Guidance

STOP PRESS: At Spring Budget 2024, the Chancellor announced that the remittance basis would be abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

If a company is operating any type of share scheme or arrangement (including EMI), they must make an online annual return by 6 July after the end of the tax year in which the scheme or arrangement was registered, and then each year during the life of the scheme or arrangement. This includes where the company is making a nil return.

HMRC’s 6 July deadline is a strict one and failure by a company to make the relevant annual return and / or declaration will have serious consequences, including penalties and,

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Helen Wood

, Employment Tax

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