Enterprise Management Incentive Scheme
Do you know about Enterprise Management Incentives (EMIs)? They are share schemes for small to medium-sized companies that are designed to incentivise and retain key employees. There are a few things you should know about EMIs before you decide if they are right for your company:
Advantages:
- Tax relief for the company
- Tax relief for employees
- Can help to recruit and retain key employees
Disadvantages:
- Complex rules and regulations
- Requires approval from HMRC
- May not be suitable for all businesses
The main advantage of an EMI is that it can help you attract and retain key employees. This is because EMIs offer tax advantages to employees, making them more attractive to work for your company.
The main disadvantage of an EMI is that it can be complex and time-consuming to set up. You'll need to get approval from HMRC before you can offer EMIs to your employees, and this can take some time.
If you're thinking of offering EMIs to your employees, it's important to weigh up the advantages and disadvantages before you make a decision.
Contact Expert Accounting and Finance for further information or advice on Enterprise Management Incentives.
0207 887 2437│www.expertacc.com
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