For disposals on or after 6 April 2013 it is possible for shares acquired under the EMI scheme to qualify for Entrepreneurs' Relief where the ‘personal company’ requirement is not met. Either Condition C or D (see TCGA92/S169I) must be met for a disposal of shares to be a material disposal.
To qualify for Entrepreneurs' Relief the share must -
•have been acquired on the exercise of a qualifying option granted under the EMI scheme (ETASSUM50000+),
•have been acquired since 6 April 2012 (but see below regarding shares acquired before 6 April 2013),
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