ETASSUM10040 - Introduction to Tax Advantaged Share Schemes - What we do
Various Teams in HMRC comprised of Technical, Operational, Process and Policy Teams:
- Maintain policy on the employment-related securities legislation and tax advantaged employee share scheme legislation,
- Provide technical support and advice on the application of the employment-related securities legislation and tax advantaged employee share scheme legislation.
- Handle operational work received via the external mailbox on issues that include ERS online reporting queries, ERS Return late filing penalties and approving NICS elections.
- Are responsible for the processes will allow customers to report their transactions to HMRC and pay the right tax.
There are currently four HMRC 'tax-advantaged' schemes that provide employees and employers with income tax and National Insurance advantages. These are: -
Schedule 2 Share Incentive Plan (SIP) (ETASSUM20000),
Schedule 3 Save As You Earn (SAYE or Sharesave) (ETASSUM30000),
Schedule 4 Company Share Option Plan (CSOP) (ETASSUM40000), and
Enterprise Management Incentives (EMI) (ETASSUM50000)
Shares acquired under these schemes are generally free from income tax and National Insurance contributions.
The acquisition of shares and securities in connection with an employment other than through one of the above schemes are commonly referred to as ‘non tax advantaged’ or 'taxed' schemes’. This means is that neither the employee nor the employer benefit from any income tax or National Insurance advantages. Guidance is provided for in Employment Related Securities Manual.
The above guidance links should provide the information you require in most cases; however, if you cannot find the information you need you can contact HMRC.
External customers can write to the following address:
Charities, Savings and International 1
HMRC
BX9 1AU
or email shareschemes@hmrc.gov.uk
For advice on cases where there are genuine points of uncertainty about HMRC’s interpretation of tax legislation, then these queries must be submitted via the Non Statutory Clearance process.
Internal Customers seeking technical advice can contact the IPD Technical Team via the Intranet at -Technical Team - HMRC or for policy related matters contact IPD ITP via the Intranet Income Tax Policy – HMRC.
NB: All queries should be submitted via the official channels stated on this page and not via staff personal emails. This will ensure they reach the correct team.