Share Scheme Reporting/Employment Related Securities (ERS) – Changes from April 2023

The changes will come in effect from 6th April 2023

HMRC has recently provided notice of changes to employment-related securities (ERS) end of year return templates. The changes will come in effect from 6th April 2023 and further details of the upcoming changes including the guidance and technical notes will be published by HMRC during February 2023.

The main purpose of the upcoming changes is to improve the HMRC’s data quality and achieve consistency in reporting.

HMRC has announced the below changes to the data fields in the end of year returns template and the information must have to be completed for the smooth filing of the end of year returns.

1. Mandatory completion of the ‘PAYE reference of the employing company’ field
2. Mandatory completion of the ‘Is PAYE operated Y/N’ field
3. Mandatory completion of the National Insurance number field and amendment to column title headings
4. Change to the ERS end of year return templates column title heading to clarify that HMRC is its valuation reference

Company Share Option Plan changes to the share options limit and share class restrictions from April 2023

Changes to the Company Share Option Plan share options limit and share class restrictions were announced on 23 September 2022. Both changes will take effect automatically from 6 April 2023. There is no need to revise the existing scheme plans.

The ERS guidance, technical notes and the Employee Tax Advantaged Share Scheme User Manual will be updated to reflect the changes being introduced from April 2023.

If you need any further information, please do contact us.

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