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Introduction

A company share option plan (CSOP) requires online self-certification by the company. HMRC has provided a review document at ETASSUM47190 which is intended to enable those setting up a scheme to ensure that they do not forget to include any of the legislative requirements.

Once the scheme is in operation, an online end of year return must be submitted each year showing information such as CSOP options granted and exercised, as well as those that have lapsed during the previous 12 months and confirmation the scheme still meets the legislative requirements. See below for more on annual returns and the penalties for late filing.

Registration and self-certification

A qualifying CSOP scheme is referred to as a ‘Schedule 4 CSOP scheme’. For a CSOP scheme to qualify:

1. •

   notice of the scheme must be given to HMRC (online) by the scheme organiser

2. •

   that notice must contain or be accompanied by such information as HMRC may require

3. •

   the notice must also contain a declaration that the requirements of the