how and where to submit the form 42

Form 42 impacts all companies formed during the 6 April 2004 - 5 April 2005 tax year. The Revenue's view is that details of the issue or transfer of shares should be sent to them on Form 42.

The deadline is 6 July 2005 and the penalties for non-submission are £300 per company and £60 per day for each day past the deadline that the form is late.

you can complete the form yourself. The Inland Revenue haven't made this particularly easy for you however - Form 42 is complex to complete to say the least. To view the form (which runs to 16 pages), you can download a copy from the Inland Revenue website - http://www.hmrc.gov.uk/shareschemes/42-2005.pdf .

Send the form to
Employee Shares and Securities Unit,
Room G52
1 Parliament Street
London
SW1A 2BQ

Enquiries
Tel 0207 147 2819/2843
Fax 0207 147 2747