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ARTICLE · 18 APRIL 2018

New EMI Plans On Hold

Mishcon de Reya LLP
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Mishcon de Reya LLP

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Enterprise Management Incentive ("EMI") Plans are the most widely used tax-advantaged incentive arrangements offered by HMRC.

European UnionTax
Caroline Nye-Wilkins
Caroline Nye-Wilkins
Stephen Diosi
Stephen Diosi

Enterprise Management Incentive ("EMI") Plans are the most widely used tax-advantaged incentive arrangements offered by HMRC. However the ability for HMRC to offer them is subject to EU State Aid approval, such approval needing to be renewed. The current renewal period expired on 6 April 2018.

HMRC has announced that the EU Commission has failed to give its decision on the latest renewal application. There is no suggestion that approval will not be given but because of the various other issues the EU is currently considering, it has not met the required timetable.

What does this mean?

HMRC has stated that this lapse of approval does not affect EMI options granted up to and including 6 April 2018. Therefore those options will maintain their tax-advantaged status.

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