Enterprise Management Incentives (EMI) — The Complete Guide for UK Founders (2026)

EMI options allow UK companies to grant employees tax-advantaged share options — up to £250,000 per employee, £3M total outstanding at any time. Options exercised and shares immediately sold: CGT at 10% BADR rate (or lower, if held 2 years from grant date). No income tax on grant or exercise (if exercise price ≥ market value at grant). The most powerful employee equity tool available to UK SMEs.