EMI - Business As Usual

HMRC yesterday issued a further bulletin confirming that Enterprise Management Incentive (EMI) arrangements will continue to operate in the same way as described in HMRC's current guidance and practice.

The HMRC Bulletin can be found here.

Companies who delayed granting options following the expiration of EU State Aid approval on 6 April 2018 can now go ahead and make grants knowing that valid EMI Options will be eligible for tax relief.

Those companies who granted EMI Options between 7 April 2015 and 15 May 2018 now have confirmation that those EMI Options will benefit from tax relief, if validly granted and exercised.

So it is back to normal for EMI Options. Whilst EU State Aid has been expressed to apply for another five years, it will run out when the UK ceases to be a member state.