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ARTICLE · 21 MAY 2013

Equity Incentives: Interesting Developments In The UK For 2013

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EMI options are intended to help smaller companies with growth potential, and the major tax advantages of EMI have always been no UK income tax at grant and no UK income tax at exercise if the exercise price is set at market value.

United StatesTax
Paula Holland
Paula Holland
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Summary: Improvements to the tax treatment of Enterprise Management Incentive ("EMI") options and the new concept of "employee shareholder agreement," whereby an employee accepts fewer UK statutory employment rights in exchange for shares with tax advantages, will both take effect in 2013.

What's happening to EMI options?

Enterprise Management Incentive ("EMI") options offer tax-favored and flexible equity incentives for companies which meet the various qualifying criteria (which include having a permanent establishment in the UK, satisfied by non-UK companies if they have either a branch or subsidiary in the UK).
 
EMI options are intended to help smaller companies with growth potential, and the major tax advantages of EMI have always been no UK income tax at grant and no UK income tax at exercise if the exercise price is set at market value. There is then UK capital gains tax (normally charged at 28%) when the employee disposes of his shares where the sale

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