The Employment-Related Shares & Securities Bulletin provides information and updates on developments relating to employment-related securities, including the tax-advantaged employee share schemes.
The thirteenth edition contains articles on:
SIP and SAYE scheme limits Self-certification, registration and online filing – timeline.
Save As You Earn (SAYE) employee share option schemes
28 February 2014
From 6 April 2014 the maximum total amount of a person’s monthly contributions under certified SAYE savings arrangements, is to increase from £250 to £500.
This Order Statutory Instrument: SI 2014/402 amends paragraph 25(3)(a) of Schedule 3 to the Income Tax (Earnings and Pensions) Act 2003 to increase the maximum aggregate amount of a person’s monthly contributions under certified SAYE savings arrangements linked to SAYE option schemes from £250 to £500 with effect from 6th April 2014.
Employment Related Securities - administration changes
11 March 2014
HMRC is changing the way both new and existing employee share schemes and arrangements are administered. The changes affect:
Enterprise Management Incentives (EMI) Company Share Option Plans (CSOP) Save As You Earn option schemes (SAYE) Share Incentive Plans (SIP) any non-tax advantaged arrangements
If you're an employer operating this type of scheme or arrangement, find out what you need to do below.
Register online from 6 April 2014 From 6 April 2014 you must register all existing and new employee share schemes and arrangements online. You must also self-certify that any tax advantaged schemes meet certain requirements. You must register:
unexercised EMI options new grants of EMI options non-tax advantaged arrangements currently recorded on Form 42 CSOP schemes, SAYE option schemes and SIPs
HMRC will no longer approve any new tax advantaged schemes. You must self-certify CSOP, SAYE and SIP to confirm that they meet legislative requirements. If you don't do this, any tax advantages will be lost. Using the new online service The Employment Related Securities (ERS) service will be part of the PAYE Online for employers service. To use the service you must be registered for HMRC taxes and signed up as an organisation for online services.
CIPP Policy News Journal
16/04/2014, Page 262 of 519
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