Every year HMRC need to be notified about any changes to your EMI option scheme. This is achieved through the submission of a spreadsheet listing changes and cancellations.

The Vestd app will complete most of this information for you but there is some information we don't have. This guide will guide you through the completion of the remaining fields. You should also refer to the government guidance where necessary.

Before proceeding please ensure you have the spreadsheet open as this will refer to specific sheets and columns.

Please check each entry and ensure it matches with your understanding of what has happened to your options.

Sheet 1 (Adjustments) and 2 (Replaced) are only used if there has been adjustments as a result of a variation in the share capital or company reorganization. These will not be filled in automatically, please contact your accountant if any of these have occured.

Sheet 3 (RLC) - Cancellations

This will include any options that have been cancelled.

Column 2-3 - Disqualifying event - If the recipient is no longer an employee we will have completed this but please verify the details are correct.
Column 8 - PAYE Reference
- Please include the company PAYE reference number.
Column 10-12 - Money received - This has defaulted to no but if any compensation was given to the employee please include details here.

Sheet 4 (NonTaxable) - Non Taxable exercise

This will include any options that have been exercised at AMV or above.

Column 6 - PAYE Reference - Please include the company reference number.
Column 10 - AMV at date of exercise - Please enter the value of the shares at date of exercise. The difference between this and the price paid will be the amount you can claim through your corporation tax as relief. For more information please see our taxation help article.
Column 15 - Sold as part of exercise - Were the shares sold on the same day as part of the exercise process?

Sheet 5 (Taxable) - Taxable Exercise

This will include any options that have been exercised below AMV. 

Column 8 - PAYE Reference - Please include the company reference number.
Column 12-13 - AMV/UMV at date of exercise - Please enter the value of the shares at date of exercise. The difference between this and the price paid will be the amount you can claim through your corporation tax as relief. For more information please see our taxation help article.
Column 18 - ITEPA Election - Was an ITEPA 431 election completed at exercise?
Column 19-20 - Approach to NI and tax paid through PAYE - Please consult the guidance notes and/or your accountant for details.


If any information is unclear please get in contact with us or your accountant / tax advisor.

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