HMRC has published the latest issue of their bulletin entitled Employment-Related Securities (ERS) Bulletin. The bulletin is intended to provide information and updates on developments relating to employment-related securities, including the tax-advantaged employee share schemes.

There are a number of government approved share schemes which offer tax advantages to employees. The approved schemes are: Share Incentive Plans (SIPs), Save As You Earn (SAYE) schemes, Company Share Option Plans (CSOPs) and Enterprise Management Incentive (EMI) schemes.

Employers that do not submit annual returns on-time run the risk that they and /or their employees may lose any tax advantages from the scheme. All returns must be filed electronically.

The bulletin includes updates on contacting HMRC for advice, issues raised by stakeholders with EMI in relation to Coronavirus, SAYE payments, EMI valuations and Coronavirus related issues with meeting deadlines for registration of new schemes and filing of returns.

Source: New feed