Since our last post on this topic, extra little nuggets have been emerging about how the new regime will work in practice. Here are some of the common traps for the unwary: 1. Paper filing is a thing of the past – it’s all online now No, annual returns for the 2013/2014 tax year for … Continue Reading
The parts of the UK Finance Bill relating to share plans came into force yesterday, finally implementing many of the recommendations of the Office of Tax Simplification in this area. The main thrust of the new regime is online registration and self-certification of plans and filing of annual returns, of which more details are given in … Continue Reading
Just a quick reminder that if you have any forms relating to the notification of the grant of EMI options (on HMRC Form EMI1) to file, you should ensure that you get them to the Revenue by 5 April 2014 – so effectively by Friday of this week. After this, HMRC will no longer accept paper … Continue Reading
With the 6 April start date for the new self-certification regime for HMRC-approved share plans fast approaching, HMRC have published some helpful amendments to the proposed legislation but have also published new provisions that require further clarification. Questions remain on how both existing and new plans will be affected. For more details, read our alert.… Continue Reading
If your company operates one of the UK tax-advantaged share plans, you will probably already have heard that new “self-certification” rules are being introduced from 6 April this year, as we reported in our post when the draft Finance Bill was published in December. HMRC have still to announce their final word on the changes, … Continue Reading
In a speech this week, Treasury Secretary Danny Alexander is reported as saying that there was “more to be done” to enhance the profile of employee ownership and “we as a government have to constantly keep under review what we can do to help”. We couldn’t agree more. We suggest that one thing the Government could … Continue Reading
