If you are required to report any director / employee share-related activity for the 2016/17 tax year, you may be aware that there have been problems with the ERS online service resulting in some returns not being accepted. Because of these issues, HMRC has extended the filing deadline from 6 July 2017 to 24 August 2017.

HMRC has confirmed that the issues have now been resolved but this extension is an absolute deadline: any return filed later than 24 August 2017 will attract a late filing penalty of £100 with additional, automatic penalties issued thereafter. This is confirmed in the latest employment related securities bulletin.

As a reminder, if you operate any share incentive arrangement or have issued shares, granted options or made other forms of share or loan note award to directors and/or employees during the 2016/17 tax year you must report such activity to HMRC through the ERS online service.  You can find more information on director/employee share reporting obligations here

About the author

Sebastian Salt Associate

Seb specialises in the design and implementation of employee incentive arrangements.