How do I submit a nil return to HMRC for unapproved options and growth shares?

To submit a nil return you need to log into the PAYE section of HMRC's website and select Employment Related Securities. Once in the ERS system select the scheme you're interested in filing for from the list of schemes and arrangements.


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You should then see the option to submit an annual return.


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Once in the annual submission process click Start now to begin.

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For a nil return, there must have been no changes (i.e. the grant, exercise or cancellation of options) during the tax year. If any changes were made, you will need to select Yes here (we explain how to submit an annual notification). 

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You then need to enter your company details, the name and the registered address used with HMRC. You can also enter your company number and tax reference number onto this page, these are optional but should be entered if you have them.

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You are then asked if you want to file for other companies; select No and continue.

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The final page will allow you to review the details before submitting.

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If your nil return is for growth shares only and there won't be any more share issues, you can close the scheme with HMRC so you don't have to submit a nil return next year. Failure to submit a nil return can result in a fine. 


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