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Employment Related Securities Bulletin 39

HMRC has issued an updated Employment Related Securities Bulletin relating to employee share scheme practice (see: ERS Bulletin 39). This covers a number of points, including:

  • A reminder that annual ERS returns should be submitted on or before 6 July following the end of the tax year. Nearly a third of registered share schemes did not file their tax year 2020 to 2021 ERS return by 6 July 2021, resulting in late filing penalties being issued.
  • The process for ceasing a scheme no longer operating or registered in error. To cease a scheme, this must be completed by accessing the ERS online service through the company’s PAYE for Employers account and annual returns must have been filed for every year if the return was nil.

If you would like to discuss this or any other aspect of share plans further,  please call 0121 281 5798.