Enterprise Management Incentives (EMI) For Maidenhead Businesses
Highly experienced, commercial accountancy expertise
For owner-managed limited companies, enterprise management incentives (EMI) are one of the most attractive share schemes. For businesses in Maidenhead, EMI is a huge opportunity because it encourages small and medium companies to acquire and most importantly retain highly skilled employees.
Furthermore, owners of Maidenhead businesses benefit from EMI as it gives significant tax benefits to your business. Over the past 10 years, these benefits have been increased to continue encouraging people to integrate EMI schemes into their workforce.
For more advice on setting up your EMI for Maidenhead businesses, please get in touch with our team.
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A significant tax benefit for you and your business
How does an EMI for Maidenhead Businesses work?
Enterprise management incentives allow every employee to hold options over shares within their company. At one time, these shares can have a total maximum market value of £250,000. To calculate the value of the shares, Maidenhead businesses must be assessed at the time of granting the EMI.
Additionally, Maidenhead businesses have to be aware that although there is not a limit on the number of employees who can participate in an EMI scheme, unexercised share values must not exceed £3 million. Additionally, employees of Maidenhead businesses must work at least 25 hours per week for their company (or 75% of their ‘working time’) and also an employee must not have control of over 30% of their company’s share capital.
How can Wilson Partners help Maidenhead businesses with EMI schemes?
Wilson Partners have extensive experience in advising Maidenhead businesses in setting up EMI schemes. We can help you select the best scheme format for your business and help you evaluate how to share out the options to reward your employees. We can also support you with your tax benefit claims to ensure you get the biggest possible savings.
Call us on 01628 770 770 for a no-obligation chat
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At our core is an understanding what our clients need and value – after all we’re an ambitious business ourselves. We advise our clients the way we would wish to be advised. Our values that shape and define the character of our business are usually shared by our clients. Review our accounting and business services for Businesses in Maidenhead.
For more detailed information and a meeting to discuss your accounting and finance requirements, please call us on: 01628 770 770 or email:[email protected]
Call us on 01628 770 770 for a no-obligation chat
What are the tax benefits of an EMI for Maidenhead Businesses?
As already briefly discussed, EMIs are a great choice for business owners because the grant is exempt from income tax or National Insurance contributions, providing that the EMI is valued correctly, options are exercised within 10 years and there are no reasons to disqualify the company, employee in terms of the option.
If values are incorrect, then Income Tax and NI will be due, although the costs can be deferred. Businesses may be liable to pay capital gains tax if they do dispose of any shares following the EMI option. The Capital Gains Tax annual exemption (£10,900) may be available to reduce CGT.
Entrepreneurs’ Relief may also be available providing the option was granted at least a year before disposal of the shares.
There is no formal process for Maidenhead businesses when applying for EMI, but options must be exercised within 10 years of the day of the grant. In addition, each grant must be set out in writing and shared directly with HMRC within 92 days of being granted, to ensure the share valuation is correct.
Finally, there is a corporate tax deduction available for the year the EMI options are exercised.
FAQs
We’ve answered some of the most common questions that we receive about our EMI Scheme services for Maidenhead businesses below.
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Get in touch...
For more detailed information and a meeting to discuss your accounting and finance requirements, please call us on: 01628 770 770 or email: [email protected]