HMRC

How HMRC’s Recent Report Demonstrates That Employee Share Schemes Are Rising In Popularity

Companies and employees both greatly benefit from employee share schemes which are authorised by HMRC. Such schemes help recruit, retain and incentivise employees by ensuring that they receive a direct financial interest in the success of the company. Large companies can utilise employee schemes in such a way as to compete for high-quality staff against quoted or known-brand companies.

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Compliance with EMI Share Option Scheme Annual Reporting

Once a company has set up and is operating an EMI share scheme, more often than not, those at the company managing the scheme only diarise for the dates on which certain employees’ options will vest and be capable of exercise. Unfortunately, there is an additional date which needs to be added to the diary – this is the EMI Annual Reporting Deadline.

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Changes to HMRC SEIS/EIS Guidance for Film and TV Companies

HMRC updated its Venture Capital Schemes Manual VCM8560 on 15 March 2021.

The update is regarding Example 3 of VCM8560 which presents an example of a qualifying film company.

The new guidance provides further clarity on how the risk-to-capital condition applies to Film and TV production companies that are seeking SEIS/EIS advance assurance approval.

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How To Complete The SEIS 1 And EIS 1 Compliance Statement And Claim The Tax Reliefs

Following a company raising investment pursuant to SEIS and/or EIS, an overview of the process whereby the company submits a compliance statement in order to receive certificates that are then distributed to investors who can then claim their individual tax reliefs.

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