HMRC has a created a new online "portlet" which from 6 April 2014 will allow employers to file their Employment Related Securities online. Employers are also required to register existing approved and unapproved share schemes.
The portlet, a branch of the PAYE services will be accessed via HMRC's online services > PAYE for employers > PAYERS
Employers may select the type of scheme they are reporting:
- Company Share Option Plans - CSOP
- Save As You Earn - SAYE
- Share Incentive Plans - SIPs
- Enterprise Management Investment schemes -EMI
- Other unapproved - share or option issues to employees
The Employee Status Shareholder scheme will presumably included, if not reportable under "other".
The portlet will allow employers to:
- Register all existing and new schemes
- Self certify approved schemes
- Notify grant of EMI options
- Annual filing of forms including Form 42 and EMI 40
Employers may update the scheme information and events throughout the year. Some parts of the scheme self-populate however the onus remains on the employers to ensure that the information online is complete.
Fiiling online via the portlet is mandatory from 6 April 2015.
