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ARTICLE · 21 MAY 2018

EMI Plans – EU Approval Now Given

Mishcon de Reya LLP
Mishcon de Reya LLP
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Mishcon de Reya LLP

Mishcon de Reya LLP

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Yesterday afternoon the European Commission issued a press release announcing that it has now granted state aid approval for the continuance of Enterprise Management Incentive plans (EMI).

United KingdomEmployment and HR
Stephen Diosi
Stephen Diosi
Caroline Nye-Wilkins
Caroline Nye-Wilkins
Jennifer Anderson
Jennifer Anderson

Yesterday afternoon the European Commission issued a press release announcing that it has now granted state aid approval for the continuance of Enterprise Management Incentive plans (EMI).   The announcement ends a period of uncertainty following the EU Commission's failure to approve the renewal of EMI arrangements  in the UK, which are subject to the EU State Aid rules, by the expiry date of 6 April 2018.

It is noted that the press release also provides that the Commission's decision only applies until the UK ceases to be a member of the European Union.

The Commission stated in its press release that:

"The Commission's assessment found that the prolongation of the measure is necessary to help UK SMEs attract and retain talented and skilled personnel."

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