Enterprise management incentives

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Share Incentives weekly highlights—13 May 2021

The following Share Incentives news provides comprehensive and up to date legal information on Share Incentives weekly highlights—13 May 2021

Share Incentives weekly highlights—6 May 2021

The following Share Incentives news provides comprehensive and up to date legal information on Share Incentives weekly highlights—6 May 2021

Share Incentives weekly highlights—29 April 2021

The following Share Incentives news provides comprehensive and up to date legal information on Share Incentives weekly highlights—29 April 2021

Share Incentives weekly highlights—22 April 2021

The following Share Incentives news provides comprehensive and up to date legal information on Share Incentives weekly highlights—22 April 2021

Featured Share Incentives content

Unapproved share options—tax treatment

Specific income tax rules (in sections 471–487 of the Income Tax (Earnings and Pensions) Act 2003 (Part 7, Chapter 5) (ITEPA 2003)) apply to...

Long-term incentive plans—income tax and NICs treatment

Types of LTIP awardsThe most common type of awards that can be made under a long-term incentive plan (LTIP) include:•conditional share awards (which...

Growth shares—practical examples and comparisons with options

What are growth shares?Growth shares, also known as value shares or hurdle shares, are a specially constituted class of shares which have restricted...

Comparison of UK and US share incentive arrangements

Companies in both the US and the UK have a long history of involving employees in equity ownership, and both countries have provided tax breaks and...

Practice notes

The Quoted Companies Alliance (QCA) Corporate Governance Code

The Quoted Companies Alliance (QCA) is an independent membership organisation that champions the interests of small to mid-sized quoted companies. One...

9th Nov

Practice notes

Nil paid and partly paid shares—tax treatment

Overview of nil paid and partly paid sharesThe opportunity to subscribe for or purchase shares nil or partly paid has been and continues to be a...

Produced in partnership with Simon Adams of RSM UK Tax and Accounting Limited 12th Jan

Practice notes

FATCA in the UK—the UK:US Intergovernmental Agreement: an outline

Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...

Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 12th Jan

In-house

Practice notes

Introduction to retained EU law

This Practice Note provides an introduction to retained EU law, which is an entirely new legal concept introduced to UK domestic law in preparation...

9th Nov

Brexit

Practice notes

Financial Conduct Authority—Principles for Businesses (PRIN)

This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the...

9th Nov

Practice notes

When is an SAYE scheme appropriate?

This Practice Note covers the following topics:•attractions of save as you earn (SAYE) schemes•can the company qualify to operate an SAYE...

9th Nov

Practice notes

Unapproved share options

What are unapproved share options?Share options are rights to acquire shares which can be exercised when certain conditions have been met (such as the...

9th Nov

Practice notes

How CSOPs work and key features

This Practice Note covers the following topics in high level detail:•what are CSOPs?•the law governing CSOP options•the eligibility...

9th Nov

Practice notes

Directors’ remuneration

Company directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a...

9th Nov

Most recent Enterprise management incentives content

Q&As

When a company is granting an Enterprise Management Incentive (EMI) option to employees, and the option holder enters into an EMI agreement with the company, is a covering letter required to be provided to the option holder? Or is it sufficient to send copies of the EMI scheme rules and the agreement to the option holder within seven days of adoption and signing?

There is no requirement for a cover letter to be provided to an EMI option holder. However, many companies do choose to issue cover letters to option...

5th May

Practice notes

Amending subsisting tax-advantaged share option plans

UK tax-advantaged share options are granted under written arrangements which are required to comply with legislative requirements contained in Part 7...

Produced in partnership with Dan Sharman of Osborne Clarke and Michael Carter of Osborne Clarke 5th May

Practice notes

How EMI schemes work and key features

EMI Review: In the Spring Budget 2020, the government announced that it will review the enterprise management incentives (EMI) scheme (see News...

29th Apr

Practice notes

EMI—qualifying companies

EMI Review: In the Spring Budget 2020, the government announced that it will review the enterprise management incentives (EMI) scheme (see News...

29th Apr

Practice notes

EMI—requirements for options

EMI Review: In the Spring Budget 2020, the government announced that it will review the enterprise management incentives (EMI) scheme (see News...

28th Apr

Precedents

Enterprise management incentives (EMI) qualification questionnaire

Enterprise management incentives suitability questionnaire in respect of [insert name of company] (the Company)The CompanyPurpose of granting the...

22nd Apr

Practice notes

EMI—notification of grant of options to HMRC

EMI Review: In the Spring Budget 2020, the government announced that it will review the enterprise management incentives (EMI) scheme (see News...

21st Apr

Practice notes

EMI—HMRC annual return

EMI Review: In the Spring Budget 2020, the government announced that it will review the enterprise management incentives (EMI) scheme (see News...

20th Apr

Precedents

Enterprise management incentives (EMI) due diligence questions

IntroductionThis legal due diligence questionnaire relates to the proposed purchase by [insert buyer name] (the Buyer) of the entire issued share...

19th Apr

Precedents

Note to company in relation to granting EMI options and maintaining the EMI qualifying status of the options

[Insert name of company granting EMI options] (Company) Enterprise Management Incentives Scheme (EMI Scheme)—adopting the EMI Scheme and granting the...

15th Apr

Practice notes

Enterprise management incentives (EMI)—income tax and NIC treatment of options

While the enterprise management incentives (EMI) eligibility criteria are very strict, the income tax and National Insurance contributions (NICs)...

12th Apr

Practice notes

The effect of multiple employments on the eligibility requirements of tax-advantaged share plans

Individuals may, at any one time, be employed by more than one employer, usually on a part-time basis for each company. These companies may sit in the...

9th Apr

Practice notes

Table summarising the income tax, National Insurance contributions (NICs), capital gains tax (CGT) and business asset disposal relief (BADR) (previously entrepreneurs' relief) treatment of enterprise management incentives (EMI) options and shares

Due to the complexities of the legislation governing business asset disposal relief (BADR) (previously entrepreneurs' relief) and the legislation...

9th Apr

Practice notes

Joint ventures and tax-advantaged share schemes

What is a joint venture?A joint venture (JV) is a commercial arrangement entered into by two or more independent parties whereby each party agrees to...

9th Apr

Practice notes

Business asset disposal relief (previously entrepreneurs' relief) and enterprise management incentives (EMI) schemes

Business asset disposal reliefBusiness asset disposal relief (BADR), is a capital gains tax (CGT) relief designed to encourage individuals to set up...

9th Apr

Practice notes

Comparison of UK and US share incentive arrangements

Companies in both the US and the UK have a long history of involving employees in equity ownership, and both countries have provided tax breaks and...

Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 9th Apr

Practice notes

Parallel options

The purpose of this note is to outline the main areas where parallel options are typically of use, how they impact upon other share incentive...

Produced in partnership with Will Cookson 9th Apr

Practice notes

EMI—trading activities

EMI Review: In the Spring Budget 2020, the government announced that it will review the enterprise management incentives (EMI) scheme (see News...

7th Apr

Practice notes

EMI—rollover of options

EMI Review: In the Spring Budget 2020, the government announced that it will review the enterprise management incentives (EMI) scheme (see News...

6th Apr

Q&As

If an enterprise management incentive option does not include express language permitting cashless exercise, would exercising director discretion to vary its terms to include such a provision be considered to be a variation and regrant?

HMRC considers that an amendment to an enterprise management incentive (EMI) option will be the grant of a new right if it involves any change to the...

6th Apr