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Damage limitation
KEY POINTS
- EU state aid approval for EMI share option schemes expired on 6 April 2018.
- Options can be exercised up to ten years from the date of grant.
- State aid approval applies to aid granted to companies not individuals.
- The EU could require HMRC to recoup aid granted to employers.
On 4 April HMRC issued Employment Related Securities Bulletin concerning the expiry of state aid approval for enterprise management incentive (EMI) share option schemes. See HMRC announcement.
The question remains – is HMRC’s analysis correct and if not what can we do? Incidentally according to an article in the Daily Telegraph 8 April (tinyurl.com/ycc8e6ye) the UK authorities applied for the renewal of approval in December 2017. This does seem rather late bearing in...
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