Print Page   |   Report Abuse
News & Press: International News

UK: HMRC filing deadlines on the horizon for employee benefit schemes

03 July 2014   (0 Comments)
Posted by: Author: Martyn Shaw
Share |

Authors: Martyn Shaw and Ainsley MacLaren (MacRoberts)

For those employers who are required to report employee expenses or benefits issued in the tax year 2013-2014, and for those employers running HMRC-registered share schemes and incentive plans that benefit from tax advantages, some key HMRC deadlines are fast approaching.

  • For those employers who are required to report employee expenses or benefits issued in the tax year 2013-2014, and for those employers running HMRC-registered share schemes and incentive plans that benefit from tax advantages, some key HMRC deadlines are fast approaching.
  • 7 July is the deadline for HMRC receiving annual return forms 34 (in relation to Save-As-You-Earn Option Schemes), 35 (Company Share Option Plans) and 39 (Share Incentive Plans).

Additional payment-related deadlines fall later in July.

Failure to adhere to these deadlines may result in penalties being issued by HMRC and any tax advantages (if such a scheme is tax advantaged) being revoked.

This article first appeared on mondaq.com.



WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

Membership Management Software Powered by YourMembership  ::  Legal