6 July: Share Scheme Returns

Updated June 2011

If you have issued awards of shares, options or other securities to employees during the tax year 6 April 2010 to 5 April 2011, or such awards have matured, you are likely to need to fill in a Share Scheme Return by 6 July.

There are a number of different returns, in particular:

• Form 42 in respect of arrangements not approved by HM Revenue & Customs;
• Form 40 in respect of awards under an Enterprise Management Incentive Plan;
• Form 35 in respect of awards under a Company Share Option Plan (this is the older style £30,000 limited approved option plan);
• Form 34 in respect of awards under a ShareSave (SAYE) Scheme; and
• Form 39 in respect of awards under a Share Incentive Plan.

If you have any queries or need any help in completing these forms, please do feel free to contact us here at TLT.

This publication is intended for general guidance and represents our understanding of the relevant law and practice as at June 2011. Specific advice should be sought for specific cases; we cannot be held responsible for any action (or decision not to take action) made in reliance upon the content of this publication.

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