European Commission- Extension to EMI Scheme
After more than six weeks of uncertainty, the European Commission has approved the extension of the Enterprise Management Incentive ("EMI") scheme under EU state aid rules.
An EMI scheme provides employers of small and medium sized enterprises ("SMEs") with a way to incentivise their key employees in a tax efficient way by using share options. The aim of the scheme is to allow SMEs to recruit and retain employees, and thus enable their growth.
There are a number of considerations to be met but these are not onerous and all arrangements are HM Revenue and Customs approved.
If you feel that your business may benefit from the implementation of an EMI arrangement please contact us if you need further information on this or any other tax related matters.