The Finance Act 2014 (“the Act”) was given Royal Assent on 17th July 2014.

The Act provides for the compulsory on-line registration of SIPs, SAYE share option plans, CSOPs and EMI option grants, as well as all forms of ‘unapproved’ plans and arrangements for the acquisition of employment-related securities, and for annual returns to be made electronically.

Existing HMRC ‘approved’ schemes must be notified to (registered with) HMRC by 6 July 2015 if grants and awards are not to lose tax advantages.