Any company whose employees or directors have acquired shares, options or securities either from the company or from another shareholder of the company must report this through HMRC online services by 6 July. The reporting of this information is a statutory obligation.
What needs to be reported?
- Shares, options or securities issued to or acquired by employees or directors
- Any options which have been exercised, cancelled or allowed to lapse
- Any shares or securities where there have been changes to the rights or restrictions attaching to them or their value has been artificially enhanced or reduced
- Cash cancellation payments to employees or directors
- A different return (Form EMI40) will be required if the company has an EMI scheme in operation.
If you have any queries, or would like assistance with this, please contact Andrew Wilson, Partner or Vicky Tunaley Tax Manager on 01788 539000.