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Enterprise Management Incentives (EMI) – HMRC confirms tax treatment

Enterprise Management Incentives (EMI)

HMRC has confirmed the tax treatment of EMI options granted between 6 April and 15 May 2018.


Partner – People Services, Reward

KPMG in the UK


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We reported on 15 May that, whilst the European Commission had renewed state aid approval of the EMI regime, HMRC’s earlier Bulletin suggested that options granted after 6 April 2018 and prior to state aid approval being renewed might not attract EMI tax relief.

However, HMRC confirmed on 31 May 2018 that all validly granted EMI options are eligible for tax relief, subject to compliance with the relevant statutory provisions. No distinction is made between EMI options granted between 6 April and 15 May 2018 and those granted at any other time.

This is welcome news, and removes the residual uncertainty for any companies whose employees were granted EMI options between these dates.

If you have any queries, please get in touch with your normal KPMG contact or e-mail

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