An Enterprise Management Incentive (EMI) scheme is one type of HMRC approved business share scheme. Approved schemes are ones which aim to support businesses grow by offering tax advantages, so long as eligibility requirements are met. The purpose of EMI schemes is to help businesses recruit and retain employees by offering them the opportunity to purchase shares in the company for a fixed price which may be worth significantly more in the future. Not only that but shares that have been purchased through an EMI scheme may qualify for tax relief and companies can also receive tax benefits through reducing their corporation tax once shares have been sold.
Ridgefield Consulting is not only a firm of chartered accountants but also ICAEW registered business advisors. We’re particularly well-experienced with supporting young start-ups to flourish into scale-ups. Whilst we’re able to provide a bespoke all-inclusive package of services to suit your business needs, we also offer the one-off service of setting up your EMI share scheme and ongoing management to include:
- Initial advice and assessment as to whether the EMI scheme is the best course of action to achieve your business objectives
- Help designing your EMI scheme so that it aligns with business goals
- Produce your valuation report and submitting to HMRC with the necessary VAL231 form
- Report EMI option grants to HMRC as and when required
- Prepare and file annual EMI option scheme return
- Advice on procedure for EMI option exercise and accounting for tax