EMI—qualifying companies

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

EMI—qualifying companies

Copyright © 2025 LexisNexis

Published by a LexisNexis Share Incentives expert

Practice notes

The EMI regime is prescriptive and sets out numerous requirements that must be met at the time the options are granted, including in relation to:

  1. •

    the company granting the options

  2. •

    the employees being granted the options

  3. •

    the shares being placed under option, and

  4. •

    the options themselves

This Practice Note focuses on the conditions that must be met in relation to companies granting the EMI options. These conditions are described in the context of the income tax relief provided for in sections 527–541 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003).

For a flowchart to help illustrate whether a company qualifies to grant EMI options, see: EMI scheme—flowchart to determine company's eligibility. For a checklist to help establish whether a company and its employees qualify to grant/receive EMI options, see: EMI options—checklist to determine whether a company and its employees qualify and for a questionnaire to do the same, see Precedent: Enterprise management incentives (EMI) qualification questionnaire.

For details of the other EMI eligibility conditions, see Practice Notes:

  1. •

    EMI—requirements for options, and

  2. •

    EMI—what

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What does Requirements mean?

A DCO should include “Requirements” to which the development authorised by the DCO is to be subject. Similar to planning conditions, a requirement specifies the matters for which detailed approval needs to be obtained before the development can be lawfully begin.

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