You may need to make an Employment Related Securities declaration to HMRC for each tax year ended 5 April. The deadline for this is 6 July following the end of the tax year.
The declaration will be needed if either of the following conditions exists:
- You have been issued with a Notice to File an Employment Related Securities form by HMRC.
- You have a reportable event during the tax year ended 5 April 2018. Reportable events may include:
- Any directors or employees have received shares in the course of their employment during the tax year.
- Any other share transactions between the directors and employees.
The Employment Related Securities template can be found on HMRC’s website. The Other Acquisitions tab needs to be completed and uploaded through HMRC online services. Further HMRC guidance can be found here.
To file the declaration you will need to do this through HMRCs Online Services:
- Login to HMRC Online Services.
- Scroll to the Other services section at the bottom of the dashboard page and click ERS Online Service.
- Then click register a scheme or arrangement and choose Other for the Scheme type.
- Then follow the on screen instructions.
Please note that once a scheme has been set up, HMRC will expect annual returns to be made until the scheme is closed. They do not request the subsequent returns but will issue a £100 late filing penalty if a return is not submitted. If there will be no known future reportable events, make sure you submit the final event date to close the scheme.
This declaration is simply an admin task and there is no tax calculation to be made, it is normal for our clients to complete this themselves. However if you would like Green Accountancy to do this for you please let us know.