Jurisdiction(s):
United Kingdom

HMRC self-certification, ERS registration, enquiries, penalties and annual returns for SIP and SAYE schemes under ITEPA 2003, plus SIP trust registration under MLR 2017 (UK)

Published by a LexisNexis Share Incentives expert

Practice notes

For further general information on share incentive plans (SIPs), see Practice Note: What is a share incentive plan? For more background on save as you earn (SAYE) schemes, see Practice Note: How SAYE schemes work and key features.

Legislation governing SIPs and SAYE schemes—self-certification, registration and filing requirements

The statutory framework for SIPs and SAYE schemes is set out in separate schedules to the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003), with ITEPA 2003, Sch 2 applying to SIPs and ITEPA 2003, Sch 3 applying to SAYE schemes. Throughout this Practice Note, these are referred to as ‘Schedule 2’ or ‘Schedule 3’, as relevant—or as ‘the applicable schedule of ITEPA 2003’.

The rules governing self-certification, registration and filing for SIPs and SAYE are located in:

ITEPA 2003, Sch 2 Pt 10, paras 81A–81K, for SIPs, and
ITEPA 2003, Sch 3 Pt 8, paras 40A–45, for SAYE schemes

The self-certification and registration regime

Until 6 April 2014, to obtain favourable tax treatment as a SIP or SAYE scheme, a plan was required to be examined and approved by HMRC...

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Jonathan Fletcher Rogers

Addleshaw Goddard

Jonathan is the head of Addleshaw Goddard's Employee Incentives and Remuneration practice, and advises UK and multinational clients on the design and implementation of share and cash-based employee incentive plans. He also advises quoted companies on corporate governance and disclosure issues in relation to remuneration. Jonathan is a regular speaker at conferences on executive remuneration and share plans more generally and has been recognised as a leading individual in employee incentives in Chambers and Partners....

Web page updated on 21/05/2026

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