EMI hiatus – State Aid approval obtained

EMI options may now be granted again in the knowledge that the normal EMI tax reliefs should be available.  We can hear HMRC’s sighs of relief from here.

HMRC had applied to the European Commission for State Aid approval in 2008 for EMI reliefs and this was given for ten years – it ran out in March 2018.  An extension was required and HMRC applied to the Commission for this approval extension. 

As reported by HLaw here, there had been serious doubt about whether EMI options could be granted or even exercised safely until approval had been obtained.

Humphreys Law