HMRC requires that employers register their employee benefit schemes and, where relevant, that they submit annual returns in relation to them. From this year, as with other Government and non-governmental agencies, HMRC requires that the submissions be made electronically.
Returns are required in respect of Enterprise Management Incentives and employment-related securities (including Save-As-You-Earn Option Schemes, Company Share Option Plans and Share Incentive Plans, which must be self-certified), and must be submitted using the HMRC Employment Related Securities Online Service. The deadline for submitting returns is 6 July 2015.
Non-tax-advantaged schemes do not need to be registered, unless a reportable event has occurred. If a scheme is registered or has already been registered, a return must be submitted – again by 6 July, even if it is only a 'Nil' return (in circumstances where no reportable event has occurred in the relevant tax year).
The 6 July deadline also covers the submission of forms P11D, P11D(b) and P9D relating to employee or director expenses and benefits, and the provision of the information to relevant employees on forms P9D and P11D.
Failure to adhere to these deadlines may result in penalties being imposed by HMRC and any tax advantages (if a scheme is tax-advantaged) being revoked.