Employment Related Securities annual returns
There are a number of government approved share schemes which offer certain tax advantages to employees. The schemes are designed to help incentivise employees by giving them the opportunity to invest in the business they work for. This in turn helps businesses retain and recruit key staff and help to offer tax efficient benefits to staff.
Since, 6 April 2014 all existing and new employee share schemes and arrangements must be registered online using the new Employment Related Securities (ERS) service. Employers must also self-certify that any tax advantaged schemes meet the legislative requirements. The new service will enable employers to file share scheme returns and information digitally.
HMRC has recently published templates for providing supporting information.
The templates are available for the following annual returns:
- Company Share Option Plan scheme
- Enterprise Management Incentives
- Save as You Earn scheme
- Share Incentive Plan
- Other ERS schemes or arrangements – non-tax advantaged
Taxpayers are advised to use HMRC’s templates but may build their own attachment, if it has the same name and follows the same structure as the HMRC template.