Do you have any taxable events in terms of Employment Related Securites to report? This is a last chance reminder: it takes up to 7 days to register and the spreadsheet for events in 2014/15 must be filed by 6 July 2015.

The old paper Form 42 has been replaced by a spreadsheet that must be completed and uploaded to HMRC via PAYE online. It can only by uploaded if an Employer has registered for the Employment Related Securities service, via PAYE online. See Shares, securities and options: tax compliance.

The form notifies HMRC of any taxable events in respect of Employment Related Securities.

Exemption

HMRC has just announced an exemption from online filing for companies which are unable to make returns of reportable events because they have no obligation to operate PAYE and have no PAYE scheme, see No reporting if not registered for PAYE for full details.

Penalties for late filing of annual share scheme returns

The 2014 Finance Act introduces the requirement for the completion of an Annual Return in order to report taxable events in connection with employment related securities, see new penalties for the failure to provide information.

Need help?

Contact the Virtual Tax Partner®.  

 

 

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