ETASSUM56080 | Enterprise Management Incentives (EMI): Option notifications: Annual returns - Appeals

Paragraph 57E, Schedule 5 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA)

A company may appeal against HMRC’s decision that the company is liable to a penalty in relation to their annual return or the information accompanying the return.

A company may also appeal against the amount of a penalty.

An appeal must be made within 30 days of the notice of assessment of the penalty. Appeals should be made in writing to the Employee Shares & Securities Team -

Post: Charities, Savings and International 1, HMRC, BX9 1AU.

E-mail: Shareschemes mail to: [email protected].

Where an appeal in relation to a decision that a penalty is due is notified to a Tribunal, the Tribunal may affirm or cancel the decision. Where an appeal in relation to the amount of a penalty is notified to a Tribunal, the Tribunal may affirm the amount of the penalty or substitute another amount.