The above form, which relates to Employment-related securities, has now been published. In addition, HMRC have also published a number of other related forms for share schemes, details of which are available in the What's New section of the HMRC website.

By way of reminder, Form 42 asks for details of reportable events in relation to securities and options that are obtained by reason of employment. The information is to be provided by one of four responsible persons and in most cases, the employer, as one of the responsible persons, will usually make the report and complete the declaration. Form 42 must be submitted by 6 July following the end of the tax year in which the reportable events occurred.

Following the introduction of e-filing of forms 42, companies are no longer sent a paper copy. Instead they receive a “Notice to File a Form 42” and companies must then file the information required electronically or send a completed paper copy of before the deadline. However, companies are required to notify HMRC of any reportable events arising in a tax year without a notice being issued to do so.