The following Share Incentives practice note provides comprehensive and up to date legal information covering:
This Practice Note seeks to summarise the main advantages and disadvantages of each of the following most commonly utilised share incentive arrangements:
enterprise management incentives (EMI) schemes
company share option plans (CSOPs)
share incentive plans (SIPs)
save as you earn/sharesave (SAYE) schemes
unapproved share option schemes
long term incentive plans (LTIPs)
growth/value share arrangements
joint share ownership plans (JSOPs), and
phantom share plans
For further general information on EMI schemes, see Practice Note: How EMI schemes work and key features.
of all the tax advantaged share schemes, EMI schemes are the most flexible with regard to the design of the terms of the scheme
no self-certification process is required and an advance assurance can be obtained from HMRC. Please note, options must be notified to HMRC within 92 days of the date of grant
there is no minimum holding period required to obtain income tax and National Insurance contributions (NICs) benefits (there is however a minimum holding period required in order to benefit from business asset disposal relief BADR (previously referred to as entrepreneurs’ relief))
EMI options granted at least two years before the shares are sold (this was previously 12 months for disposals made before 6 April 2019) may qualify for BADR. The criteria required for shares acquired through the exercise of EMI options to qualify for BADR are significantly
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