HMRC - the impact of furloughing on EMI options
To continue to qualify for income tax relief on his or her EMI options, the employee must continue to meet the 'working time' requirement.
This is a concern for businesses that may have furloughed employees with EMI options and who are fast approaching the 90 day deadline – in which case this will be a disqualifying event and the tax relief will be lost. The hope is that HMRC will provide an extra statutory concession to confirm the position. Unfortunately, there is still no further update on the position from HMRC.
Photo by Kai Pilger on Unsplash
If you need any assistance or further information, please contact Jeremy.
Jeremy Glover Partner - Tax and Incentives +44 (0) 20 7060 6404 jeremy.glover@jurit.com
Please note this paper is intended to provide general information and knowledge about legal developments and topics which may be of interest to readers. It is not a comprehensive analysis of law nor does it provide specific legal advice. Advice on the specific circumstances of a matter should be sought.
