How to issue shares to populate Form ERS 15

Introduction

From tax year ending 5 April 2015 employee related share scheme information must be submitted electronically to HMRC via their Online Service using their appropriately formatted spreadsheet template. The template for the spreadsheet supplied by HMRC must be used for this purpose and has therefore been incorporated into IRIS Company Secretarial.

This topic explains how to issue shares within IRIS Company Secretarial to populate the ERS 15 form.

1. From the Company Secretarial menu bar, select Share Register.

2. Select the Events tab.

3. Click New and select the relevant option:

1. • Share Issue

   • Bonus Issue

   • Rights Issue

   • Scrip Issue

4. Complete the basic information tab with the required information for the issue.

5. Click the ERS/Form 42 tab and complete the relevant options.

ERS section

• Exempt from ERS/Form 42 – tick if this issue is exempt (ticking will result in the issue not being populated on the ERS form)

• Employee-related – (automatically ticked) un-tick if this in not and employee related issue (un-ticking will result in the issue not being populated on the ERS form)

• Shares unrestricted – (automatically ticked) un-tick if the shares are restricted (un-ticking will result in the issue not being populated on the ERS form)

Scheme section

• Part of a scheme – tick if this issue is part of a scheme.  

• Approved scheme – tick if this issue is part of a scheme that has been approved

• Employee shareholder agreement – tick if this issue was under and employee shareholder arrangement

• Scheme ref no. – Enter the reference number issued by HMRC if this issue relates to a disclosable tax avoidance scheme

Valuation section

• Market value per share – Enter the market value per share

• HMRC valuation ref. – Enter the reference number issued by HMRC if this issue is related to shares not listed on a recognised stock exchange

• Nature of artificial reduction – (automatically N/A) change this if there was an artificial reduction in value on acquisition

Tax section

• Tax due – tick if tax is payable for this issue

• PAYE has been operated – tick if tax is payable and the shares are readily convertible into cash as tax and NICs are payable through PAYE.

• Remittance basis adjustment – tick if there were any adjustments made for amounts subject to the remittance basis on this issue

6. Click OK to save.

7. Click Add to select members to take up the share issue.

8. Type the number of shares to be issued

9. Click Post.

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