EMI shares

(TCGA 1992, s. 169I(7A)–(7R))

(In-depth: ¶572-950)

With effect in relation to disposals on or after 6 April 2013 of shares acquired pursuant to the exercise of a qualifying EMI option, entrepreneurs’ relief will be available in respect of the disposal notwithstanding that the ‘personal company’ requirement (>5% holding) may not be satisfied. To qualify, the shares must be:

acquired since 6 April 2012;

disposed of at least one year after the grant of the option; and

the individual must have been an employee of the company, or a company in the same trading group, throughout the one year period ending with the disposal.

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