Filing your UK annual share plan tax returns

6 July 2024 ERS annual return deadline approaching

The deadline for filing the annual employment related securities return ("return") for the 2023/2024 tax year (which ended on 5 April 2024) is Saturday 6 July 2024.

As a reminder, you should normally file a return for all open schemes each year even if this is a “nil” return as a result of no activity that year unless and until HMRC has been informed that the scheme has ended.

Filing the return

There is one master online system for tax reporting: HMRC Online Services.  The share plans reporting system, "ERS online", is an add on to HMRC's PAYE online service and the person who will administer the filings must have a user ID and password for the online PAYE service.

For group companies, only one company within the group needs to submit a return, including details of participation by UK employees of other members of the group.

The templates for the return and guidance notes on completing them can be found here.  You should read the guidance notes carefully and ensure you follow these when completing the form.  Penalties can apply for incorrectly completed or formatted returns.

The consequences of failure to register or file

Financial penalties apply automatically if a company fails to register its plan.  In addition, financial penalties apply if a return is filed late or is incorrectly completed/formatted returns.

If you have not already registered an arrangement with HMRC (and/or you do not already have a generic registration for "Other ERS schemes and arrangements" which could be used for the purpose of submitting the annual return) you should do so immediately as it can take over a week for the registration to take effect.  This is an online process.  Following registration you will receive a unique scheme reference number which you will then use for this and future filings.