Enterprise Management Incentives (EMI) are a way of empowering your staff and energising them into supporting the success of the business. It is a direct link between the success of their work and the success of the company. They reap the rewards that they sow.
The schemes are known as ‘approved employee share schemes’ and provide you with a tool to grant share options to key employees rewarding effort, retaining skilled staff and incentivising your workforce.
EMI schemes are also incredibly tax efficient; an employee will not be expected to pay income tax or national insurance where they buy these shares for market value.
However, the scheme must meet various conditions set by HMRC in order to qualify as tax efficient.
Here at Hybrid, we understand how important it is to have staff that are excited about the success of the company and are motivated to help it succeed. Our experts can assist you in setting up your EMI scheme, granting your options, keeping a close eye on your options pool and eventually assisting you in the exercise of these options.
We know exactly what you are thinking.
- That is going to be costly
- Solicitors don’t understand our business
- It is too complicated
- I do not have time for complex lengthy paperwork
- The stress with outweigh the benefits
Expert help without the stress.
Because we understand what it means to grow a business.
- Fixed Fees
- Down to earth advisors
- A team who cares
- Years of expert knowledge at the dial of a phone
- Simplified approach making the whole process easy to understand
We want to see you grow
We break it down so you can understand every step of the procedure.
Understanding your business
Many traditional law firms forget this, but it’s the most important step. In order to get this right, we need to understand you as a business, learn why you wish to use an EMI scheme, and understand your current shareholdings.
HMRC advanced assurance
Before setting up a scheme, we approach HMRC and ask them to provide advanced clearance for the scheme by confirming that you are a qualifying company and what the proposed market value of the shares is at the date they are granted.
Once you have received clearance, you can begin granting options to your employees. This should be done through options agreements that will document what is being granted and when these shares can be exercised.
HMRC set timelines for informing them that an option has been granted. If you do not meet this time frame, the options will not qualify under the EMI scheme and are therefore unapproved share options not benefiting from the tax advantages. We will take care of these notifications on your behalf.
Eventually, your employees will wish to exercise their options and purchase the shares at the agreed market value. This will require paperwork, a formal allocation of shares, an update to your register of members, and an update to your capital table.
Keeping HMRC, and you, up to date
During the life of your scheme, we will keep HMRC notified where required, and we will keep you up to date. We will work with you to ensure your scheme runs without a hitch, and we can connect you to tax advisors, or work with yours, to ensure that the scheme always operates at maximum efficiency for you and your employees.
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