Section 421JA — Income Tax (Earnings and Pensions) Act 2003: Annual returns

Annual returns 421JA 1 This section applies in relation to a person who is (or has been) a responsible person (see section 421L) in relation to reportable events (see section 421K).

2 The person must give to Her Majesty's Revenue and Customs (“ HMRC ”) a return for each tax year falling (wholly or partly) in the person's reportable event period.

3 The person's “reportable event period” is the period—

a beginning when the first reportable event occurs in relation to which the person is a responsible person, and b ending when the person will no longer be a responsible person in relation to reportable events.

4 The return for a tax year must—

a contain, or be accompanied by, such information as HMRC may require, and b be given on or before 6 July in the following tax year.

5 The information which may be required under subsection (4)(a) includes (in particular) information to enable HMRC to determine the liability to tax, including capital gains tax, of any employee.

6 If the person becomes aware that—

a 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, b 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 c any other error or inaccuracy has occurred in relation to a return for a tax year, the person must give an amended return correcting the position to HMRC without delay.

7 A person's return for a tax year under this section need not contain, or be accompanied by, duplicate information and a person is not required to give a return for a tax year under this section if it would only contain, or be accompanied by, duplicate information. 8 “ Duplicate information ” means information which is contained in or accompanies—

a a return which another person gives for the tax year under this section, or b a return which any person gives for the tax year under any of the following provisions—

i paragraph 81B of Schedule 2 (annual return for Schedule 2 SIP );

ii paragraph 40B of Schedule 3 (annual return for Schedule 3 SAYE option scheme); iii paragraph 28B of Schedule 4 (annual return for Schedule 4 CSOP scheme);

iv paragraph 52 of Schedule 5 (annual return for company whose shares are subject to qualifying options under the EMI code).