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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

HM Revenue & Customs
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Introduction to Tax Advantaged Share Schemes: Setting up a scheme: Annual returns

Companies are required to make annual returns through the HMRC on-line service for ERS:

  • for the year in which they first notify the scheme, or if notification is after the date of the first award date for SIP or the first grant date for SAYE and CSOP schemes, for the year in which the first award date or grant date falls; and  
  • every subsequent year ending with the year in which the termination condition is met.

This means that even if no reportable events occurred in the tax year, a ‘nil return’ must be submitted.

Returns are also required where a scheme loses its tax advantaged status following an enquiry into a SIP where shares remain in the plan (CSOP and SIP) after that date or into a SAYE option scheme where options remain exercisable after that date, (refer to ETASSUM27150 for SIP, ETASSUM37090 for SAYE and ETASSUM46150 for CSOP).