Income Tax (Earnings and Pensions) Act 2003 section 421JA

Annual returns

Section 421JA requires anyone who is or has been a "responsible person" in connection with reportable events involving employment-related securities to file annual returns with HMRC.

• A responsible person must file an annual return with HMRC for every tax year that falls wholly or partly within their reportable event period, with a deadline of 6 July following the end of the relevant tax year
• The reportable event period runs from the date the first reportable event occurs (for which the person is responsible) until the person ceases to be a responsible person for any future reportable events
• Returns must include whatever information HMRC requires, which may include details needed to determine any employee's liability to income tax or capital gains tax, and any errors or omissions discovered after filing must be corrected by submitting an amended return without delay
• A return does not need to include duplicate information already reported by another person under this section or under the specific annual return requirements for Share Incentive Plans, SAYE option schemes, Company Share Option Plans, or Enterprise Management Incentive schemes

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