[F1[F2421JAAnnual returnsU.K.
(1)This section applies in relation to a person who is (or has been) a responsible person (see section 421L) in relation to reportable events (see section 421K).
(2)The person must give to Her Majesty's Revenue and Customs (“HMRC”) a return for each tax year falling (wholly or partly) in the person's reportable event period.
(3)The person's “reportable event period” is the period—
(a)beginning when the first reportable event occurs in relation to which the person is a responsible person, and
(b)ending when the person will no longer be a responsible person in relation to reportable events.
(4)The return for a tax year must—
(a)contain, or be accompanied by, such information as HMRC may require, and
(b)be given on or before 6 July in the following tax year.
(5)The information which may be required under subsection (4)(a) includes (in particular) information to enable HMRC to determine the liability to tax, including capital gains tax, of any employee.
(6)If the person becomes aware that—
(a)anything which should have been included in, or should have accompanied, a return for a tax year was not included in, or did not accompany, the return,
(b)anything which should not have been included in, or should not have accompanied, a return for a tax year was included in, or accompanied, the return, or
(c)any other error or inaccuracy has occurred in relation to a return for a tax year,
the person must give an amended return correcting the position to HMRC without delay.
(7)A person's return for a tax year under this section need not contain, or be accompanied by, duplicate information and a person is not required to give a return for a tax year under this section if it would only contain, or be accompanied by, duplicate information.
(8)“Duplicate information” means information which is contained in or accompanies—
(a)a return which another person gives for the tax year under this section, or
(b)a return which any person gives for the tax year under any of the following provisions—
(i)paragraph 81B of Schedule 2 (annual return for Schedule 2 SIP);
(ii)paragraph 40B of Schedule 3 (annual return for Schedule 3 SAYE option scheme);
(iii)paragraph 28B of Schedule 4 (annual return for Schedule 4 CSOP scheme);
(iv)paragraph 52 of Schedule 5 (annual return for company whose shares are subject to qualifying options under the EMI code).]]
Textual Amendments
F1Pt. 7 Ch. 1 substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)
F2Ss. 421JA-421JF inserted (with effect in accordance with Sch. 8 para. 234 of the amending Act) by Finance Act 2014 (c. 26), Sch. 8 paras. 228, 232