A recent bulletin published by HMRC has announced that the enterprise management incentives (EMI) valuation agreement period, which was extended to 120 days during the COVID-19 pandemic, will shortly revert back to the standard 90 days.
Any letters issued by HMRC on or after 1 December 2022 agreeing an EMI share valuation will now only be valid for 90 days. Any agreement letters issued by HMRC prior to this date will have a window of 120 days for the company to grant the options (assuming that no material changes that could impact the share valuation occur during this time).
If you would like further information on employee share incentives including EMI options, please get in touch with Tom Woodcock at tom.woodcock@hazlewoods.co.uk or 01242 237661.