Search our news, events & opinions

1 July 2020 0 Comments
Posted in Corporate, Opinion

EMI options: amends to commitment of working time and disqualifying events

Author headshot image Posted by , Partner

We are pleased to report that on 26 June, the Government tabled an amendment to Schedule 5 of the Income Tax (Earnings and Pensions) Act 2003 which will come as a relief to companies with EMI Schemes and holders of EMI options.

EMI schemes

The new clause amends the rules relating to commitment of working time and disqualifying events for enterprise management incentives (EMI) options. The amendments are intended to ensure that:

  • when calculating an employee’s “committed time” before granting an EMI option, any time when the employee is not required to work for reasons connected with Covid-19 is counted as working time; and
  • a disqualifying event does not occur in relation to an individual as regarding an EMI Option as a result of the individual taking leave, being furloughed or working reduced hours because of Covid-19.

The modifications will have effect in relation to the period from 19 March 2020 to 5 April 2021.

Our Corporate and Commercial teams are monitoring the effects of the COVID-19 crisis and will continue to bring you updates as we learn more. Contact us on:

0800 923 2073     Email

Leave a comment

Thank you for choosing to leave a comment. Please keep in mind that comments are moderated and please do not use a spammy keyword or a domain as your name or it will be deleted.





Keeping you informed about Corporate news, events and opinion.


T: 01225 730 168 (DDI)

Search our news, events & opinions