Where an employee or Director has received shares or share options in their employing company in the tax year to 5 April 2019 these will, in most cases, require reporting to HM Revenue & Customs by 6 July on a separate tax return.
In addition to the acquisition of shares, the company must consider its obligation to report any of the following events:
- Shares or securities disposed of by employees or directors;
- The grant or exercise of share options;
- Any options which have been cancelled, or assigned or have been allowed to lapse
- Any shares or securities where there have been changes to the right or restrictions attaching to them
- Any shares or securities which have been converted or forfeited
- The issue of loan notes any other debt instruments, and their redemption.
It is therefore important to identify and review all transactions which may give rise to a reporting requirement, to avoid HMRC from issuing penalties of up to £1,000 after nine months and £10 a day thereafter.
If you would like our assistance in meeting your filing obligations, please call Vicky Tunaley, Rugby on 01788 539000 or Jon Kicks, Leicester on 0116 261 0061.