EMI options - notifying HMRC

An important piece of news for those clients and businesses that have implemented EMI option arrangements. HMRC has recently produced an updated form for notification of the grant of an EMI option An important piece of news for those clients and businesses that have implemented EMI option arrangements. HMRC has recently produced an updated form for notification of the grant of an EMI option (form EMI1) which includes a new address for the submission of the form. The new address is Small Company Enterprise Centre, HM Revenue & Customs, First Floor, Fitzroy House, Castle Meadow Road, Nottingham, NG2 1BD. You can find the new form at http://www.hmrc.gov.uk/shareschemes/news/index.htm.

A quick reminder why this is important. For EMI options to qualify for EMI tax treatment, they need to be notified to HMRC within 92 days of grant. Companies granting EMI options should make sure that EMI1 forms are now sent to the new address. If EMI1 forms are sent to the wrong address, they may miss the deadline for filing and the options may not qualify as EMI options.

For more information on EMI option arrangements in general, please do contact me or download our brochure.