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HMRC confirms relief for EMI schemes

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HMRC has confirmed in Employment-related Securities Bulletin 30 that enterprise management incentive (EMI) share options granted between 7 April 2018 and 15 May 2018 will continue to receive tax advantages under the EMI scheme.

This clarifies the position on the period of hiatus between the expiry of EU state aid approval for the scheme on 6 April and renewed approval being given on 15 May.

Furthermore, HMRC has also confirmed it will waive the three-year limit which would otherwise prevent the grant of further options, should companies wish to cancel options issued during this period and start again.