EMI Options - what do we need to file?

[rlellie14]

Hi. Our business has issued EMI Share options to 3 employees. There was a similar issue a few years ago but the employee left 2 years ago. A few questions:

1) Do I need to register a new EMI scheme with HMRC? (I don't know if that fact that this is an issue in a new tax year to means it is classed as a different scheme?) Or do I just add the employees to the original scheme?
2) The HMRC site says I must tell them

• within 92 days of the date of grant — if the option was granted before 6 April 2024
• by 6 July following the end of the tax year the grant was made in — or you risk losing any tax benefits for you and your employees

If it was granted on or after 6 April 2024, you must tell HMRC about this on or before 6 July following the end of the tax year in which the grant is made.​

​

This option has only just been granted so presumably I've got until 6 July to tell them?​

​

3) Do I need to notify Companies House of anything? If so, what, how and when?

Many thanks!

 

[Daybooks]

If the subsequent granting of options is under the same scheme: there are no significant changes to the company, its name or ownership and it is for the same class of shares then you can report it via the Gateway portal using the existing scheme reference. Remember you may (will) need a new valuation report approved by HMRC for the option price.

Thus report the changes or additions on the portal in the timeframe required.

There is nothing specific to report to Companies House on the options; this would have been catered for if needed; but there remains the requirement to report changes in the capital structures. This might include where options would exceed availability, which of course could be deemed a significant change. If in doubt refer to the scheme details identified on creation or contact HMRC at [email protected] or take legal advice.

 

[rlellie14]

If the subsequent granting of options is under the same scheme: there are no significant changes to the company, its name or ownership and it is for the same class of shares then you can report it via the Gateway portal using the existing scheme reference. Remember you may (will) need a new valuation report approved by HMRC for the option price.

Thus report the changes or additions on the portal in the timeframe required.

There is nothing specific to report to Companies House on the options; this would have been catered for if needed; but there remains the requirement to report changes in the capital structures. This might include where options would exceed availability, which of course could be deemed a significant change. If in doubt refer to the scheme details identified on creation or contact HMRC at [email protected] or take legal advice.

many thanks for the advice, much appreciated!