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

Persons to whom section 421J applies

Section 421L identifies who counts as a "responsible person" when employment-related securities events need to be reported to HMRC.

• Responsible persons include the employer, any host employer, the person from whom securities were acquired, and (for non-excluded securities) the issuer of the securities
• A host employer is a UK-based person (other than the actual employer) for whom the employee works and who would be treated as making PAYE income payments on the employee's behalf
• Where the employee is a continental shelf worker and PAYE does not apply to the employer, any relevant person connected to that employee is also a responsible person
• Government bonds, local authority debt instruments, and securities listed on a recognised stock exchange or designated UK market that are issued by a person unconnected with the employer are excluded from issuer reporting obligations

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