Employment Related Securities (ERS) Returns due on 6 July

20 April 2022

If you have an EMI Options Scheme, please note that the deadline for filing the EMI annual return is on 6 July 2022.

news : Deadlines

If you have an EMI Options Scheme or other tax-advantaged share schemes (including CSOPs, SAYE and SIPs), the deadline for filing the Employment Related Securities returns is on 6 July 2022.

HMRC can levy fines to your business if you miss this filing date. HMRC has no obligation to issue reminders to a company about making its annual returns. It is therefore important that the company is prepared to make the annual returns on time.

Do I need to file an annual return?

If your business has registered an EMI Options Scheme, you are required to file an annual return.

You need to include details of any changes to your EMI scheme for the year ending 5 April 2022.

Common changes to the EMI scheme for early stage companies include: 

  • changes to or lifting of restrictions on the options through changes to the scheme rules or individual awards;
  • there have been EMI options which have been exercised; 
  • there have been any employees who were granted EMI options (on or before 5 April 2021) and have left the business.

If you have registered the EMI Scheme but there has been no activity in the tax year, you will still need to complete an online ‘nil’ return, even if there no qualifying EMI Options have been granted.

How do I file an annual return?

The annual return can be filed using your company’s HMRC online account, using the PAYE portal (your payroll accountants are typically best placed to support you if you would like help).

The video below shows how to file a “nil” EMIL Annual Return with HMRC.

Further information

One point for clarification, the annual return is not to be confused with 

  • registering the EMI scheme with HMRC online, or
  • notifying HMRC of a grant of EMI options (within 92 days of the grant date).

If you have any questions on the Employment Related Securities annual returns or would like assistance, please do get in touch with Liam.

Nothing on this page is intended to be or should be construed or taken as accountancy, investment, tax or any other kind of advice. We recommend individuals and companies seek professional advice on their circumstances and matters.