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Latest on EMI schemes

24 April 2018 / Patrick Billyeald
Issue: 4644 / Categories: Comment & Analysis
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Damage limitation

KEY POINTS

  • EU state aid approval for EMI share option schemes expired on 6 April 2018.
  • Options can be exercised up to ten years from the date of grant.
  • State aid approval applies to aid granted to companies not individuals.
  • The EU could require HMRC to recoup aid granted to employers.

On 4 April HMRC issued Employment Related Securities Bulletin concerning the expiry of state aid approval for enterprise management incentive (EMI) share option schemes. See HMRC announcement.

The question remains – is HMRC’s analysis correct and if not what can we do? Incidentally according to an article in the Daily Telegraph 8 April (tinyurl.com/ycc8e6ye) the UK authorities applied for the renewal of approval in December 2017. This does seem rather late bearing...

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