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Employer reporting deadline: 6 July 2023

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A reminder that this is not just for Forms P11D. Don’t forget to report employment-related shares/share options (and other securities).

Employers must report to HMRC any events relating to “employment-related securities” that took place in the year to 5 April 2023 by 6 July 2023.

This annual reporting requirement applies to a wide range of transactions involving employees and shares (or other securities such as loan notes) in a company connected to their employment (such as the holding company of the group in which their employer company sits). If you have reported transactions in a previous year and not closed down the scheme online then a nil return is still required. Penalties will be levied for any failures to file on time.

Transactions which require reporting will include, but are not limited to:

  • HMRC approved share schemes such as EMI and CSOP;
  • Shares (or other securities) acquired by employees or directors (or connected persons) even if they paid market value.  This applies to most transactions including new shares issued, a transfer of shares, and shares issued as part of a re-organisation;
  • The grant or exercise of options (or other event) under any “unapproved” share schemes;
  • A sale of shares (or other securities) by employees or directors (or connected persons) for more than market value; and
  • A raft of other events which include, but are certainly not limited to, changes to the rights of shares (and other securities) which enhance the market value.

Employers must report schemes/other events via their PAYE online services. If a company has not previously registered for this, it could take up to seven days to “go live”, so prompt action will be required!