Companies granting tax-advantaged EMI options typically agree a valuation with HMRC Shares Valuation prior to the grant of options.

During the coronavirus pandemic, HMRC temporarily extended the valuation agreement period for EMI options from 90 to 120 days. HMRC has confirmed that this temporary extension will end on 1 December 2022. Any EMI valuation agreement letters issued by HMRC on or after 1 December 2022 will be valid for 90 days only.

Companies operating EMI plans are reminded that it is important that options are granted within the valuation window agreed with HMRC, and that any material changes in circumstances which may affect the agreed valuation are promptly brought to HMRC's attention.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.