Despite the 6 July deadline, many employers have yet to get to
grips with online filing for the share schemes and awards they use
to reward employees. However, those that have tried to use the
online registration system are already having problems.
During May, HMRC began sending out standard letters to all
employers that it could identify that have used CSOP, SAYE or SIP
share schemes. The letter points out common registration and filing
errors that have already arisen and how to resolve them.
One of the most common problems is incorrect registration of a
scheme – eg registering a SIP as a CSOP or vice versa.
HMRC's letter advises that the only way to correct this is to
complete a nil return for the incorrectly registered scheme for
2014/15 and show it as ceased. Then the scheme needs to be
registered again correctly so that a return can subsequently be
submitted.
