The 6 July deadline for companies to register their share incentive plans with HMRC online (and self-certify their tax advantaged plans) is fast approaching.  By this date companies must also make an end-of-year return for each plan, including any non-tax-advantaged (“unapproved”) arrangements where there have been “reportable events” – see our previous blog posts on this topic.

Unless there is a reasonable excuse, which will be assessed on a case-by-case basis, there is an automatic penalty of £100 for failing to submit an annual return on time, an additional penalty of £300 per 3-month period the return is left outstanding and £10 per day if it is over 9 months late.

Details of a meeting at ifsProShare between HMRC and representatives of various companies have recently been released.  According to a straw poll of the 22 attendees, although around 90% of them had registered their plans with HMRC online, none had yet submitted their end of year returns.

The notes of the meeting contain lots of helpful titbits about the practicalities of online registering and filing and can be obtained from ifsProShare on request (