Q&As

What are the filing requirements following an exercise of an EMI Option?

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Published on LexisPSL on 08/12/2016

The following Share Incentives Q&A provides comprehensive and up to date legal information covering:

  • What are the filing requirements following an exercise of an EMI Option?

What are the filing requirements following an exercise of an EMI Option?

There is a legislative requirement for companies who operate enterprise management incentives (EMI) schemes to complete an online annual return every relevant tax year. Before a company can submit a return using the employment related securities (ERS) Online Service, it must first be registered to use HMRC Online Services.

The return must be in respect of each tax year up until the termination of the scheme (ie when there are no outstanding EMI options and no intention of granting any further EMI options). The company risks penalties if the annual return is not completed or completed incorrectly.

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