Key facts:
Unapproved schemes are much more flexible than the tax advantaged or HMRC approved schemes such as Enterprise Management Incentives (EMI) or Company Share Option Plans (CSOP). A company is therefore free to impose whatever conditions or restrictions on the options or shares that it may agree with its employees.
Unapproved schemes are much less tax efficient than the tax advantaged or HMRC approved schemes and complex tax issues can therefore arise.
Who can benefit?
A company can offer unapproved share options to any of its employees and can limit such an offer to key employees, should it wish.
Emma Cameron
Matthew Arnold & Baldwin LLP is a limited liability partnership registered in England & Wales (registered Number: OC343595) and is authorised and regulated by the Solicitors Regulation Authority. SRA Number: 508037. A list of members (and any non-members who are designated as partners) of Matthew Arnold & Baldwin LLP is open to inspection at the LLP’s registered office: 21 Station Road, Watford, WD17 1HT, United Kingdom. We use the word “partner” to refer to a member of the LLP or an employee or consultant with equivalent standing and qualifications.
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