Discretion in EMI Share Options

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HMRC has today, 14th October 2022, published its long-awaited revised guidance on the use of discretion in EMI share options. This is the product of much “toing-and-froing” between HMRC and the Share Plan Lawyers, but does not alter either HMRC’s long-established practice or, insofar as it may be relevant, the position in law. The new guidance can be accessed here: https://www.gov.uk/hmrc-internal-manuals/employee-tax-advantaged-share-scheme-user-manual/etassum54300

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David Pett A barrister valued for his strong advice to taxpayers on employment and corporate tax related issues. He is particularly respected for his deep knowledge of employee share schemes. Strengths: "Clear, clever, very commercial and highly responsive." "He really knows employment tax inside out." David Pett is a specialist counsel and member of Temple Tax Chambers, advising on tax, remuneration and employee share schemes. - Chambers Review

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