The Government has today taken steps to improve and reform the current EMI legislation. The measures are designed to help small and medium enterprises who carry on a qualifying trade recruit and retain high calibre employees.
The government has said it will increase the value of tax-advantaged EMI options that can be held by an employee by more than doubling the individual grant limit from £120,000 to £250,000. The limit is measured by reference to the aggregate unrestricted market value of the shares held under option measured on the date of grant of the option. The Government has stated that this change will commence “at the earliest opportunity”.
In addition, the Government has today also announced that it will consult on extending the EMI scheme to academics employed by an EMI qualifying company from April 2013.