ARTICLE · 08 MARCH 2011

Tax Factsheet - Employee Share Based Reward Reporting - March 2011

Smith & Williamson

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Employers and other "responsible persons" have an obligation to report the following events relating to employees and directors

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Reporting Obligations

Employers and other "responsible persons" have an obligation to report the following events relating to employees and directors:

share awards,
share purchase and certain share sales,
grant of share options, and
certain other share-related transactions and events. Reports must be sent to HM Revenue & Customs (HMRC) before 7 July each year. Failure to report can lead to significant penalties. The reporting requirements cover employee sharerelated events occurring in the preceding tax year (6 April to 5 April).

Don't assume that just because you have not been sent a return you do not need to complete one.

Consequences of failure

Where returns are not filed within the deadline or are incomplete the following penalties may be imposed:

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