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HMRC internal manual

Employment Related Securities Manual

Reporting requirements

Failure to make a report

If a “responsible person” (as described in ERSM140090) fails to make a report on or before 6 July following the relevant tax year then penalties can arise.

Penalties will arise if a return is not received by 6 July following the end of the tax year to which the return relates. A £100 penalty will be issued automatically even if the return is just one day late. Additional automatic penalties of £300 will be charged if the return is still outstanding three months after the due date, and a further £300 if it is still outstanding six months after the due date. If a return is still outstanding nine months after the due date, daily penalties of £10 a day may be charged.

Penalties may be imposed on each “responsible person”. Once one responsible person has made a return containing all of the information that any of the other responsible persons were also obliged to make a return for, then those other responsible persons are no longer obliged to make that return.