A consultation document was published by HMRC on 27 June covering the proposal to extend Enterprise Management Incentives (“EMI”) share schemes to academics employed by qualifying companies.
Academic employees involved in research and development activity can play an important part in the success of a business however as many work part time due to other commitments, this makes it difficult to satisfy the EMI working time requirement.
The document asks for comments on the proposal to relax the working time requirement for academic employees, by linking their average hours worked with the EMI company with the time they spend on relevant academic work for a research institution. The consultation concludes on 18 September.
Practitioners who act for companies looking to reward their employees carrying out research and development work will find this of some interest.