Don’t let your ERS penalties snowball out of control

Do you know that you should register your share plan with HRMC’s Employment Related Securities Service (“ERS”)? Do you know that an annual return is due by 6th July each year for each type of plan you operate e.g. Enterprise Management Incentive Plan (“EMI”), Share Incentive Plan (“SIP”)?

If you forget to register and file your share plan annual returns the penalties can soon add up.

The first penalty is £100 for failing to meet the 6 of July deadline, then additional automatic penalties of £300 will be charged if the return is still outstanding on 6th October, and a further £300 if it’s still outstanding 6 months after that date. If a return is still outstanding 9 months after the 6th July, daily penalties of £10 a day may be charged.

With the start of the new tax year approaching let RM2 assist you. We offer a full share plan administration service to take the burden off you. Contact us on 0208 949 5522 or email