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Background

Any company operating a non tax-advantaged share scheme or arrangement (eg making awards of shares or other securities to employees, directors or other office holders) is required to give notification of the arrangements to HMRC using its employment-related securities (ERS) online service. No notification is needed when the scheme or arrangement is established, instead registration of an ERS scheme is required at such time as there is a ‘reportable event’. In practice, the first reportable event is often immediately after the scheme is established. For instance, a non tax-advantaged share scheme may be adopted during a company board meeting, with board approval of the initial option grant given in the same meeting.

Companies are required to make an annual return in respect of such