Why and how to upload your existing share schemes to Vestd
If you set up a share scheme before joining Vestd, good for you! You’re ahead of the curve and already know how beneficial it is to have a team with real skin in the game.
But you’ll probably be well aware of all the paperwork and HMRC filing that comes with it. Of course, share schemes created on Vestd are paperwork-free – and HMRC filings are a breeze as the platform prefills much of the information for you.
So, rather than keeping your existing share schemes filed away – and your recipients confused as to what it all means – we can digitise them for you for easier management and better engagement.
Why digitise existing share schemes?
Increase engagement and understanding
As we alluded to above, recipient engagement and even understanding of the value of their shares is lost when all they have to go off is their agreement.
We’re big believers in the ownership effect, but for its benefits to ring true, people need to know what – and even how much – they own.
When existing share schemes are uploaded to Vestd, you can invite each recipient to the platform. They will get their own Vestd dashboard – which is like an interactive version of their agreement that explains everything they need to know about their equity.
They can also:
- View the current value of their shares (if a company valuation is added)
- Enter future values to see how much their shares could be worth
- Learn about the tax benefits of their equity
- Calculate their tax liabilities and potential profit
- Request to exercise their options
All share schemes created on Vestd allow shareholders and option holders to use these features, so doesn’t it make sense to give your current share scheme the same treatment?
Simplify share scheme management
If you’ve had to manually submit an annual return to HMRC for an EMI option scheme, we feel your pain.
But when schemes are uploaded to Vestd, much of the spreadsheet is prefilled for you (as long as all scheme activity such as option exercises, cancellations and leavers are recorded on Vestd). You just need to fill in the blanks and submit it to HMRC, and that’s you done for another year.
Similarly, the day-to-day management of share schemes becomes much easier too.
If an employee leaves the company, you can process leavers in just a few clicks. If someone wants to exercise their options, you can complete the request in just a few clicks. And if the company goes through an exit, you can transfer everyone’s shares to the new owners in just a few clicks.
Whenever activity like that takes place, Companies House must be updated with the relevant paperwork. Again, Vestd does all of this for you.
How do I digitise my existing share schemes?
Once you have joined Vestd, we’ll ask if you want to digitise your existing schemes. If so, a one-off fee will be due based on the size and complexity of the schemes.
You’ll then need to upload all the details of the existing schemes to Vestd, such as signed agreements, signed authorisations and any valuations. We’ll provide guidance on how to do this, but please note that you will be responsible for uploading all the correct information.
If you’ve already joined Vestd and want to digitise an existing scheme, please contact us at email@example.com to start the process.
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