EMI—notification of grant of options to HMRC

Copyright © 2025 LexisNexis
Published by a LexisNexis Share Incentives expert
Practice notes

EMI—notification of grant of options to HMRC

Copyright © 2025 LexisNexis

Published by a LexisNexis Share Incentives expert

Practice notes
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Enterprise management incentives (EMI) schemes are tax advantageous discretionary share Option schemes used widely in the UK. EMI schemes have the potential to provide very generous tax treatment and allow for generous individual awards. However, the EMI legislative requirements are strict and the grant Notification obligation is imperative to ensuring that the EMI tax status is not lost.

This Practice Note details the following:

  1. •

    the notification obligation

  2. •

    reasonable excuse for late notification

  3. •

    the form of notification for Options granted prior to 6 April 2014

  4. •

    the form of notification for options granted since 6 April 2014

  5. •

    correction of a notice of grant

  6. •

    the declaration to be given on behalf of the employer company

  7. •

    HMRC right of inquiry

  8. •

    annual returns

The notification obligation

For a share option (including a replacement option) to be an EMI qualifying option, notice of the option must be given to HMRC before the statutory notification deadline. HMRC enforces this time limit strictly and failure to make such a notification will likely render the

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Notification definition
What does Notification mean?

eu merger control rules require the prior notification of proposed concentrations (mergers) of a certain size, which must be suspended pending approval from the European Commission.

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