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HMRC's latest Employment Related Securities Bulletin contains some handy tips. Here is our enhanced version.

IFRS 16 and impact on gross assets value for Enterprise Management Incentives (EMIs)

If a company uses IFRS for accounting purposes, IFRS 16 will apply from January 2019, in determining the value of assets shown on the balance sheet. HMRC are updating their guidance for this.

Definition of ordinary share capital for employee share schemes

Certain HMRC approved tax advantaged share schemes have awarded interests in, or options over, particular types of instruments generally issued by companies in Switzerland, Germany, Austria and France and known as ‘jouissance shares’ (‘actions de jouissance’) in French and ‘Genuβscheine’ in German.

From 6 April 2019:

Notifying errors in EMI options to HMRC and ceasing a scheme registered in error/no longer required

Correcting option notifications:

Ceasing a scheme:

See Employment related securities reporting issues

Working time declarations and EMI 

HMRC considers that the EMI working time declaration is a statement at the time of grant of the option that the individual meets the working time commitment which must be made at the time the option is granted.

See EMI checklist

EMI options and restrictions

HMRC’s new postal address for share schemes enquiries

The following change of postal address to be used from 18 March 2019:

Charities, Savings and International 1 
HMRC 
BX9 1AU 

New valuation form 231

Annual return deadlines

After the 6 July 2019 the following types of new schemes, established during 2018 to 2019 cannot register or submit an annual return:

Links to previous Employment related securities: What's New?

Employment Related Securities: What's New? March 2018

External Links

HMRC ERS Bulletin March 2019