Employment Related Securities (ERS) Returns due on 6 July

Advice and Tax

April 21, 2020

If you have an EMI Options Scheme, please note that the deadline for filing the EMI annual return is on 6 July 2020.

If you have an EMI Options Scheme, please note that the deadline for filing the EMI annual return is on 6 July 2020.

HMRC can levy fines to your business if you miss this filing date.

Do I need to file an annual return?

If your business has registered an EMI Options Scheme, you are required to file an annual return.

You need to include details of any changes to your EMI scheme for the year ending 5 April 2020.

Common changes to the EMI scheme for early stage companies include: 

  • changes to or lifting of restrictions on the options through changes to the scheme rules or individual awards;
  • there have been EMI options which have been exercised; 
  • there have been any employees who were granted EMI options (on or before 5 April 2019) and have left the business.

If you have registered the EMI Scheme but there has been no activity in the tax year, you will still need to complete an online ‘nil’ return, even if there no qualifying EMI Options have been granted.

How do I file an annual return?

The annual return can be filed using your company’s HMRC online account, using the PAYE portal (your payroll accountants are typically best placed to support you if you would like help).

The video below shows how to file a “nil” EMIL Annual Return with HMRC.

Further information

One point for clarification, the annual return is not to be confused with 

  • registering the EMI scheme with HMRC online, or
  • notifying HMRC of a grant of EMI options (within 92 days of the grant date).

If you have any questions on the EMI annual return or would like assistance, please do get in touch with Arram or Adam.

Interested in EMI Annual Return?

Speak to Arram Kang

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