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HMRC concerns over company failure to submit annual returns for share schemes.
HMRC are concerned about the number of cases in which companies have registered their share schemes for 2014/15 but have failed to submit their annual returns.
Oversight may be to blame in some cases, say HMRC, but in others errors may have been made during registration, such as accidental duplication of the scheme.
In such cases an annual return must still be submitted. Companies with share schemes should log on to the HMRC online service and access ERS online to check that they have submitted an annual return for each scheme they have registered, including those that might have been set up in error.
A scheme can be closed by selecting “view schemes and arrangements” on ERS online.
More information can be found in HMRC’s Employment-related securities bulletin 21.
