EMI options

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COVID-19: Yet More Relief, and More Certainty, for EMI Option Holders

On Tuesday, 21 July 2020, the Government announced further good news for companies operating enterprise management incentive (EMI) share option schemes that will allow them to continue to grant new options to individuals who: have been furloughed under the Coronavirus Job Retention Scheme (CJRS), or have taken unpaid leave, or have had their working hours … Continue Reading

COVID-19: A New Relief for EMI Option Holders

Late on Friday, 26 June 2020, with little fanfare, the Chancellor of the Exchequer tabled a new clause for inclusion in the Finance Bill 2020 (FB 2020) during its Report stage in the House of Commons. It addresses a key concern around furloughed employees who hold enterprise management incentive (EMI) options (as discussed previously on … Continue Reading

COVID-19: UK Employee Share Schemes

Employee retention is a high priority for businesses grappling with the profound impact of the coronavirus disease 2019 (COVID-19). Employee share schemes remain a versatile and valuable way to retain important employees. However, many may not have considered the unexpectedly adverse tax consequences that some of the UK government’s business support measures (including, for example, … Continue Reading

EMI options – the wait is over!

Since 6 April 2018 companies have been unable to grant new EMI options, because the existing EU state aid approval expired without fresh approval having been received. So there has been much excitement today at the news that the EU Commission has now given state aid approval, and companies can now grant new EMI options. … Continue Reading

EMI option hiccup

The vagaries of EU State Aid approvals probably pass most of us by.  However, they have come centre stage for many SMEs with HMRC’s announcement that it is not expected that an extension to the UK’s existing State Aid approval for EMI options will be granted before 6th April, when the current approval expires. HMRC … Continue Reading

The “Brexited” share incentive plan: yet another unknown

Although we’re not in the business of crystal ball-gazing, here are some possible issues relating to Brexit and executive pay, particularly share-based remuneration, that we’d like to throw into the pot (unless that’s too much of a mixed metaphor). It seems unlikely that post-Brexit the UK would impose restrictions on overseas issuers offering their shares … Continue Reading

Filing deadline for UK share plans is fast approaching!

Just a quick reminder that the deadline for making annual returns for UK share schemes relating to the 2015/2016 tax year is 6 July 2016.  For tax-advantaged share schemes: share incentive plans (otherwise known as SIPs); company share option plans (CSOPs); savings-related share option schemes (SAYE/Sharesave); and Enterprise Management Incentives (EMI), if a new scheme … Continue Reading

Happy new (UK tax) year! – action required for all share incentive plans

In several posts last year, we charted the development of the new HMRC rules for the online registering, self-certifying and making of annual returns for share plans, and indeed all arrangements under which employees receive shares. Now the dust has settled, the teething troubles have been ironed out and the templates for the new “end-of-year” returns … Continue Reading

What value EMI options?

The best advice to an unquoted company granting EMI options has always been to agree the value of a share with HMRC shortly before grant.  This gives certainty: the company will know that it isn’t breaching the £3 million limit on the value of EMI options it can grant; the option holder can be comfortable knowing that all … Continue Reading

DIY and get it right! The further perils of registering share plans with HMRC

As trailed in our previous post, HMRC has just published the FAQs about its new online service for share plans. It’s clear that it’s very much do-it-yourself.  If you want confirmation that your registration of a share plan or notification of an EMI option grant was successful, make sure you print and save a copy of … Continue Reading
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