Compliance and Regulatory Consulting
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HM Revenue and Customs (HMRC) requires UK businesses to make an annual notification where shares or securities have been acquired by employees including directors and salaried members. The annual deadline for making this filing is July 6, of each year and applies for the previous tax year ending on April 5.
You are required to file if:
What is a reportable event?
Most commonly, a reportable event occurs when securities have been acquired by an employee (including directors and salaried members) by reason of their employment and includes the opportunity of investing in a fund, shares of the employer or carried interest arrangements. Other reportable events might also apply to you.
The rules are far reaching and include past, present and prospective employment and immediate family members and other connected persons to such employees. If you are in doubt, please contact us and we can help you determine whether a filing is required.
When is a report not required?
How do I file?
HMRC have an online filing system which requires log-on details to be obtained in advance and has historically experienced capacity issues, therefore confirming your position and filing early is recommended. If you require any assistance with this, please do not hesitate to contact our Regulatory Tax Advisory team.