HMRC’s Employment Related Securities Bulletin 54 (February 2024) reminds businesses to familiarise themselves with a rule change coming in from 6 April 2024. For Enterprise Management Incentives (EMI) options granted on or after that date, companies will be required to notify HMRC of the grant by the 6 July that follows the end of the tax year in which the options were granted. For options granted before 6 April 2024, the deadline is 92 days from the date of grant (and the 92-day deadline will continue to apply for any options granted before 6 April 2024, where the 92 days runs past that date). This change is introduced by clause 13 of Finance Bill 2024 (which is expected to become section 13 of Finance Act 2024).
The Bulletin also notes that HMRC’s Company Share Option Plan end of year template and submission checking service ‘will be updated from 6 April 2024’ – apparently to account for the CSOP share options limit increase from 6 April 2023.
HMRC’s Employment Related Securities Bulletin 54 (February 2024) reminds businesses to familiarise themselves with a rule change coming in from 6 April 2024. For Enterprise Management Incentives (EMI) options granted on or after that date, companies will be required to notify HMRC of the grant by the 6 July that follows the end of the tax year in which the options were granted. For options granted before 6 April 2024, the deadline is 92 days from the date of grant (and the 92-day deadline will continue to apply for any options granted before 6 April 2024, where the 92 days runs past that date). This change is introduced by clause 13 of Finance Bill 2024 (which is expected to become section 13 of Finance Act 2024).
The Bulletin also notes that HMRC’s Company Share Option Plan end of year template and submission checking service ‘will be updated from 6 April 2024’ – apparently to account for the CSOP share options limit increase from 6 April 2023.
