HMRC have made another announcement about the Employment Related Securities (ERS) Online service, as follows:

"This service is now live. We apologise for any inconvenience caused to customers.

As customers have been unable to file their annual return by the 6 July 2015 deadline, we will extend the deadline for filing annual returns. If a customer files their return on or before Tuesday 4 August we will not charge a penalty. There is no need for them to contact HMRC.

We have been asked whether customers who filed their returns on or before 3 July and received an on-screen acknowledgement might need to re-submit their returns. We are still investigating the potential impact on those customers. We will publish a further message about this in due course."

Confused about what you should be reporting?

See Reporting share events for links to guidance, remembering that there is an exemption from the ERS provisions in s421B(3) ITEPA 2003 for shares and securities issued to friends and family where the reason for the share issue was not employment related.

For example if you formed a company with one share and therefore need to make a bonus issue of shares to yourself so that you can later have enough shares to enable you to give shares to your son and daughter, both the bonus issue and subsequent gifts of shares should fall within the exemption.

 

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