In this episode of The Agenda from Lewis Silkin, partners Matthew Rowbotham and Kathy Granby discuss the significant changes to the UK's Enterprise Management Incentives (EMI) option regime that came into effect on 6 April 2026.
It will cover:
- the increase in the gross assets limit from £30 million to £120 million and the rise of the company-wide scheme limit to £6 million
- the increase in the employee cap from 250 to 500
- the extension of the option lifespan from 10 to 15 years
Matt and Kathy explore what these changes mean in practice for businesses that already have incentive arrangements in place, including those with unapproved options, CSOP options, and growth shares, weighing up the benefits and pitfalls of replacing existing awards with EMI options. They will also outline the legal and compliance steps involved in transitioning to EMI, from obtaining employee consent and executing deeds of surrender to registering schemes with HMRC and meeting annual reporting deadlines.