Our pricing for setting up and maintaining your EMI option scheme is fixed and transparent
Set up your EMI option scheme
We’ll take you through five steps to set up your EMI option scheme. Enquiry to granting the EMI options normally takes about five weeks
£2,999 plus VAT is payable for setting up your EMI option scheme, including grant of EMI options and any non-qualifying options for employees who do not qualify for EMI options at the same time. If your company is not EMI eligible, we can set up a non-qualifying option scheme for £999 plus VAT.
Step 1
Enquire – Enquire on our website as regards EMI options. You’ll be dealing with experts on EMI options from the start, not sales. Book a call with us to discuss your requirements as regards EMI options if you like. See ‘Key reasons to implement an EMI scheme‘
Step 2
Check – We’ll double-check with HMRC that your company is EMI eligible (this process is called ‘advance assurance’). HMRC normally take 2 weeks to confirm that your company can use EMI options. See ‘Can my company use EMI?‘
Step 3
Valuation – We’ll work out your company’s valuation for EMI purposes, agree it with you, and then apply to HMRC for their agreement of that valuation – see ‘Why is a low share valuation good for EMI?‘ HMRC normally take 3 weeks to reply to confirm the EMI valuation. The EMI options should be granted within 90 days of the EMI valuation. We’ll explain UMV and AMV, and help you set the exercise price for the EMI options – see ‘What are UMV and AMV? What is an exercise price?‘
Step 4
Legals – We’ll prepare all the legal documents (EMI option plan rules, option agreements, board minutes and others) – see ‘What are the different types of EMI options?‘ We’ll sort out your option pool – see ‘What is an option pool and how big should it be?‘ We’ll make sure your employees becoming shareholders wont cause issues – see ‘Any issues on employees becoming shareholders?‘
Step 5
Grant – Once everything is finalised and the valuation has been agreed with HMRC, e-sign the EMI option agreements and other legal documents.
HMRC will also need to be notified of the grant of EMI options by midnight 6 July after the end of the tax year of the grant of the EMI options.
After the EMI options have been granted, we’ll activate the EMI dashboards for you and your employees, and make any relevant Companies House filings
Ongoing maintenance of your EMI option scheme
We’ll help you maintain the EMI option scheme you set up with us hassle-free.
If you want us to process your EMI annual return, you’ll need to have engaged us by 6 April before the 6 July submission date.
£499 plus VAT covers the everyday services required for EMI options and non-qualifying options for 12 months.
There will be supplementary charges for additional EMI valuations. If your business hasn’t changed materially and the valuation methodology remains the same from the first valuation, our fee will be £499 plus VAT, otherwise it will be £999 plus VAT.
Helpline
You can talk to us via phone, email or video.
EMI annual returns
The annual return for an EMI option scheme has to be submitted for each tax year to HMRC by midnight 6 July. We’ll work with you to complete the EMI annual return and then submit it to HMRC – see ‘What is an EMI annual return?’
EMI compliance
We’ll help you check regarding disqualifying events for EMI options, such as the company ceasing to pass the eligibility requirements, or an employee reducing their hours – see ‘What happens when a ‘disqualifying event’ occurs?‘
Leavers
We’ll help you with the changes required to your EMI option scheme as regards leavers by giving you clear guidance on what to do – see ‘How to deal with leavers holding options‘
New options
If you need new EMI options for new employees or additional EMI options for existing employees, we’ll prepare the option agreement and update the dashboards for you. We’ll also help you check on the maximum number of EMI options that the company remains able to issue in total, or to any individual employee – see ‘Who should get EMI options and how many?‘
New EMI valuations
If more EMI options are granted or leavers exercise their EMI options, new EMI valuations are recommended. This is to make sure there is no dispute with HMRC in calculating any share capital gain later.
Exercising EMI options
If any EMI options are to be exercised, just contact us. We’ll provide the exercise notices and other relevant documents.
You’ll be guided by experts
Once signed up, you’ll have access to your own personal Dashboard
