Form 42 deadline for reporting employment-related securities

Reporting share & security transactions to HMRC

If you’re an employer operating a share scheme on behalf of your employees or have carried out other employment-related securities transactions, you may need to notify HMRC and submit an ERS return, also known as a Form 42.

The Employment Related Securities (ERS) return should be submitted online by 6th July following the end of the tax year and can be done by either the employer or an agent (typically an accountant). The next deadline is 6th July 2020.

There are late filing penalties for returns filed after 6th July and potential penalties for errors.

You’ll still need to submit a return if there are no share or security transactions during the tax year, and for as long as you operate the share schemes.  Also, even if HMRC doesn’t issue you with a reminder, you should submit a return if you’re still operating employee share schemes.

We can advise and help you with your HMRC reporting requirements, including ERS forms and all other employer tax issues. Please get in touch to discuss your requirements by calling 01527 558539 or emailing Julia Gallagher or Helen Sewell.

More info on our services can be found here.

employment-related securities