For those employers who are required to report employee expenses or benefits issued in the tax year 2013-2014, and for those employers running HMRC-registered share schemes and incentive plans that benefit from tax advantages, some key HMRC deadlines are fast approaching.
- 6 July is the HMRC filing deadline date for forms P11D, P11D(b) and P9D relating to employee or director expenses and benefits, and is also the deadline date for providing relevant employees with the forms P9D and P11D. This is also the latest date by which annual return forms EMI40 (for Enterprise Management Incentives) and 42 (for employment-related securities) must be received by HMRC.
- 7 July is the deadline for HMRC receiving annual return forms 34 (in relation to Save-As-You-Earn Option Schemes), 35 (Company Share Option Plans) and 39 (Share Incentive Plans).
Additional payment-related deadlines fall later in July.
Failure to adhere to these deadlines may result in penalties being issued by HMRC and any tax advantages (if such a scheme is tax advantaged) being revoked.