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Enticing new employees
Key points
- Enterprise management incentive (EMI) schemes can be used to incentivise key employees.
- The company and employee must meet conditions for the scheme to qualify.
- The employee does not pay income tax on the grant of the share options but will be liable to capital gains tax on the sale of the shares.
- A disposal of relevant EMI shares will qualify for business asset disposal relief.
- Discounted shares will create an income tax liability for the employee.
I was sitting in my local coffee shop waiting for cousin Jim to arrive pondering over whether to have a choc chip muffin or a cinnamon swirl with my mocha latte.
Jim bounds into the coffee shop. ‘Great to see you Nicole. It has been far too long sincere apologies! I have been so busy. I have recently set up a new company Jim’s Gymborama.’
Jim is...
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