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.