Paragraph 52 F1
This paragraph applies in relation to a company whose shares are (or have been) subject to qualifying options.
The company must give to Her Majesty's Revenue and Customs (“HMRC”) a return for each tax year falling (wholly or partly) in the company's qualifying option period.
The company's “qualifying option period” is the period—
beginning when the first qualifying option to which the company's shares are subject is granted, and
ending when the termination condition is met.
“The termination condition” is met when the company's shares—
are no longer subject to qualifying options, and
will no longer become subject to qualifying options.
The return for a tax year must—
contain, or be accompanied by, such information as HMRC may require, and
be given on or before 6 July in the following tax year.
The information which may be required under sub-paragraph (5)(a) includes (in particular) information to enable HMRC to determine the liability to tax, including capital gains tax, of any person who has been granted a qualifying option to which the company's shares are subject.
If the company becomes aware that—
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,
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
any other error or inaccuracy has occurred in relation to a return for a tax year,
the company must give an amended return correcting the position to HMRC without delay.
Annotations
Textual amendments
- F1
Sch. 5 paras. 52, 52A substituted for Sch. 5 para. 52 (with effect in accordance with Sch. 8 para. 224 of the amending Act) by Finance Act 2014 (c. 26), Sch. 8 paras. 218, 222
Notes on Schedule 5
Modifications
- C1
Sch. 5 modified (18.3.2026) by Finance Act 2026 (c. 11), s. 16
- C2
Sch. 5 modified (6.4.2026) by Finance Act 2026 (c. 11), s. 13(10)