EMI scheme assistance
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- Proposals: 1
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- #2374351
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Description
Experience Level: Intermediate
Hi all. I have:
- a small Australian company.
- a UK-based team member who is acting as a sole trader
We want to issue Options in the company, and have identified that the EMI scheme is the best way to do so.
I've done significant reading on this, and it appears that by having someone work full time as a sole trader with us, we are considered to have a Permanent Establishment in the UK. Not only this, Sole Traders who dedicate 75%+ time to one company (ie ours) are eligible for RMI. So, on these points, we're comfortable.
We also easily fit the other eligibility criteria in terms of company size, turnover, the value of options being granted to team members, and such.
All Options Agreements and such will be drawn up in Australia. We just need to make sure to add clauses to ensure that our documents comply.
The main things I need help with:
- The terms needing to be added to our Australian employee share plan
- Verifying that our Options agreement (once written) complies with UK law
- Registration with HRMC
- a small Australian company.
- a UK-based team member who is acting as a sole trader
We want to issue Options in the company, and have identified that the EMI scheme is the best way to do so.
I've done significant reading on this, and it appears that by having someone work full time as a sole trader with us, we are considered to have a Permanent Establishment in the UK. Not only this, Sole Traders who dedicate 75%+ time to one company (ie ours) are eligible for RMI. So, on these points, we're comfortable.
We also easily fit the other eligibility criteria in terms of company size, turnover, the value of options being granted to team members, and such.
All Options Agreements and such will be drawn up in Australia. We just need to make sure to add clauses to ensure that our documents comply.
The main things I need help with:
- The terms needing to be added to our Australian employee share plan
- Verifying that our Options agreement (once written) complies with UK law
- Registration with HRMC
MATTHEW N.
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6 May 2024
United Kingdom
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