When you need one
HMRC says you must submit a return or nil return every year for every scheme registered in the ERS online service. For EMI, a nil return is needed if there are no outstanding qualifying options but the scheme is registered, or if there are outstanding options but no activity in the tax year. The same £100 late filing penalty applies to a late nil return.
How to file one
A nil return is made in the ERS online service: when it asks about reportable events, answer no. There is no attachment, so you do not need Share Scheme Return or a licence for it.
Schemes you no longer use
If a scheme has ended, or was registered by mistake, enter a final event date in the ERS online service. You still file the return for the tax year in which the final event date falls.
Based on HMRC's published guidance: EMI guidance notes, section 1. Submit returns for ERS. Checked on 21 October 2026. This is general guidance, not tax advice, and HMRC's own pages take priority if they change. Share Scheme Return is not affiliated with HMRC.
Let the free checker find these for you
Load your option register or finished return and see every row HMRC is likely to reject, with the reason and the fix. Nothing is uploaded, and you don't need an account.