Finance Bill – in a Public Bill Committee am 10:00 am ar 16 Ionawr 2024.
We are proceeding at pace. Clause 13 amends the enterprise management incentives, or EMI, provisions to improve the process for granting EMI options by extending the time that participating companies have to notify HMRC of a grant. EMI helps small and medium enterprises to compete with larger firms to attract and retain key talent by bolstering the attractiveness of the share-based remuneration that they can offer to their employees. In the 2021 Budget, the Government launched a call for evidence on the performance of EMI and whether it should be expanded. In the 2022 spring statement, the Government concluded that EMI remains effective and is appropriately targeted. However, the Government listened to those who said that the administrative requirements of the EMI scheme could be improved, particularly the process of granting options. The change we are making will help to address those concerns by making it even easier for companies to use EMI, as requested by industry.
Clause 13 will extend the time limit for a company to notify HMRC of a grant of EMI options from 92 days following the date of grant to
As we have heard, clause 13 extends the time limit within which employer companies have to notify HMRC that they have been granted EMI options from 92 days after the grant was made to
I thank the hon. Lady again for her contribution and support. There are many relatively small and highly technical changes that we are making through the Bill, and this is one of them. On paper, it can look somewhat technical and confusing, but it is really meaningful, and I appreciate the fact that the hon. Lady and Opposition Members acknowledge that. The clause supports small and medium-sized businesses in recruiting and retaining key talent by simplifying the process to grant EMI options. For the reasons we have outlined, I urge that the clause stand part of the Bill.