HMRC launches online submission service for share schemes

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HMRC launches online submission service for share schemes

HM Revenue & Customs has introduced an online filing service for employee share scheme returns.

This service allows companies to report information online currently provided on forms:

• 34 (SAYE)

• 35 (CSOP)

• 39 (SIP)

• 42 (employment-related securities).

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Tax year 2006-07 will be the first tax year for which online reporting can be made. To use this facility, users must be registered for the PAYE Online - Internet Service.

Companies will no longer be issued with paper returns for completion. HMRC will instead issue notices to file share scheme annual returns to those companies whose schemes are known to us. Companies will be encouraged to file online but they will still be able to file paper returns if they choose to do so.

Want to know more?

For more information visit HMRC’s PAYE Online Services web pages at www.hmrc.gov.uk/shareschemes/returns-and-info.htm.