HMRC announced on Wednesday (4th April) that the availability of EMI Options will be temporarily suspended (for new option grants) from the end of Friday this week — 6th April 2018.
This was a surprise to everyone. It appears that, since last year, the government has been following the process of applying to the European Commission for fresh approval and we await the Commission’s final response.
They won’t receive this before 6th April 2018 now. It appears the government is working hard to ensure this period is as short as possible. The expectation is that this suspension should be for no more than a few weeks (as State Aid approval is expected shortly).
If you were thinking of issuing EMI options in the not too distant future… it may be advisable to continue making submissions for valuation approval from HMRC. Once the government has made an updated announcement the team at Vestd can help support you to either:
Complete your proposed EMI option grants
Help you understand your next best available scheme
Questions about company share schemes? Start with our Complete Guide to Setting Up a Company Share Scheme or contact us directly.