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HMRC internal manual

Compliance Operational Guidance

HM Revenue & Customs
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Supporting guidance: employer compliance guidance by subject: employment related securities: Schedule 4 Company Share Option Plan (CSOP): completion of the enquiry

Once the enquiry has been completed you must issue a closure notice (available in SEES).

The closure notice must:

  • state that the enquiry is closed
  • give the company details of the outcome of the enquiry, see ETASSUM46120, and
  • where HMRC decides that the requirements of the legislation are not or has not been met, it must state whether the error is a ‘serious error’ or ‘less serious error’, see ETASSUM46150.


Once you have established the type of error, you will need to determine the penalty, see COG945350.