Share scheme penalties for late returns

Dealing with share plan returns sounds pretty unexciting – until you get a penalty for not doing it properly.

We recently did a review of companies that took some or all of their plan administration in house or to a non-specialist on cost grounds: 92.5% of those companies subsequently made mistakes resulting in penalties.

HMRC won’t send you a reminder to send in your returns, but they will send you a penalty notice if you fail to do so, and they will add interest to the fines. Over time, these penalties can add up to hundreds, or even thousands, of pounds – particularly if you are operating more than one share plan.

Every year, RM2 deals with at least 100 share scheme returns for Enterprise Management Incentive Plans (EMI), Share Incentive Plans (SIP), and other plan types, on behalf of our clients, removing the administrative burden of dealing with HMRC’s online share plans portal, which remains less than user-friendly.
We have years of experience managing our clients’ share plans to minimise costly and stressful mistakes. It’s not too late to get your share plan returns corrected and up to date before the deadline on 6 July. If you’ve got a sinking feeling about whether or not you’ve dealt with your share plan returns, get in touch with our Operations Team on 0208 949 5522 or by email: