EU re-approves State Aid for EMI Schemes

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EU re-approves State Aid for EMI Schemes

Published: 16 May 2018

On the 15th May 2018 the European Commission confirmed that it would be re-approving the continuation of state aid for the UK’s Enterprise Management Initiative (EMI) scheme.

This brings to an end a period of uncertainty regarding the scheme which started when the previous approval (granted back in April 2009) expired on 6th April of this year. During that period it was unclear whether new EMI Options granted would be eligible for the various tax advantages that EMI Schemes normally enjoy.

 

Frustratingly the UK Government was unable to give any indication as to when they thought the European Commission would confirm their re-approval.

 

Our advice to those clients that we have been advising on EMI schemes has, for the last six weeks, been to hold off from granting EMI Options until the uncertainty had been resolved and it is pleasing to be able to now advise them that they can now proceed with the EMI Options that they had planned to issue.

 

EMI Options are an excellent way of attracting and retaining talented staff so this news should be welcomed by UK companies although it is also important to note that the Commission’s approval only applies until the UK ceases to be a Member State of the EU.

 

If you are thinking of providing an EMI Scheme for your staff, the team at PDT would be very happy to assist.

The content of this webpage is for information only and is not intended to be construed as legal advice and should not be treated as a substitute for specific advice. PDT Solicitors LLP accepts no responsibility for the content of any third party website to which this webpage refers.

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