HMRC internal manual

Compliance Operational Guidance

COG945190 - Supporting guidance: employer guidance by subject: employment related securities: Schedule 3 Save As You Earn (SAYE): opening an enquiry

An enquiry can be opened:

  • into the declaration made by the company when notifying the Save As You Earn scheme (SAYE) to HMRC, see ETASSUM37030
  • into the declaration on the annual return notifying an alteration to a key feature or variation of capital, see ETASSUM37080
  • where HMRC has reasonable grounds for believing that the requirements are not met or have not been met, see ETASSUM37050 .

For details of the time limits for issuing a notice of enquiry see COG945200.

Opening the enquiry

You should send the opening letter [available in SEES] to the company, and the agent if authorisation held, together with Factsheet CC/FS1e or CC/FS1f, as appropriate, and include details of the information required, for example:

  • the Schedule 3 SAYE options scheme rules
  • ancillary documents (share option application form, invitation letter, deed of grant of options, option certificate and notice of exercise)
  • the company’s resolution establishing the scheme and any resolution amending it
  • the company’s Articles of Association
  • any agreements or documents that cover arrangements made between the scheme operators and the scheme participants.

Your letter should include a deadline date for the company to provide the information required.

If there is no response, or the information and documents requested have not been provided by the deadline, you should consider using the information powers at paragraph 45 to Schedule 3 to the Income Tax (Earnings and Pensions) Act 2003, see ETASSUM37040.