Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Annual return definition

What does Annual return mean? In practice, “annual return” is used in two senses. Investment: a descriptive measure of 12‑month investment performance, generally calculated as total return (dividends plus capital gains/losses) and typically excluding transaction costs and taxes. Common in investment agreements and disclosures; not defined by statute. Company filings: - United Kingdom (England & Wales, Scotland and Northern Ireland): the former Companies Act 2006 “annual return” was replaced on 30 June 2016 by the confirmation statement (form CS01) filed at Companies House (Registrar of Companies) under section 853A CA 2006. It confirms up‑to‑date particulars of directors, any company secretary, registered office, share capital and...

UK EMI options: HMRC annual return—registration, deadlines, reportable events, nil returns, penalties, common errors and employee self-assessment; with 2027 abolition of grant notifications

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Practice notes

This Practice Note outlines the following:

the EMI end‑of‑year return form
pre‑registration and the timetable for completing the Annual return
events that must be reported
nil returns
unapproved options
penalties for non‑compliance
frequent ERS annual return mistakes
the employee’s self assessment obligation, and
where to obtain further information

The EMI annual return form

For guidance on the distinct process (and separate form) used to notify HMRC of the grant of EMI options, see Practice Note: EMI—notification of grant of options to HMRC.

On 26 November 2025, as part of Budget 2025, it was announced that, with effect from 6 April 2027, the need to notify HMRC of EMI option grants for them to be qualifying options will be removed. This change will be legislated in Finance Bill 2026–27 and means that, for options granted on or after 6 April 2027, no separate notification of grant is required. Instead, HMRC will require grant information to be included within EMI end‑of‑year returns from 6 April 2028...

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Web page updated on 22/05/2026

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