Employee incentive schemes often prove to be great ways of boosting employees’ morale: this may be achieved through the provision of monetary or non-monetary awards. Employee incentive schemes may also help a business to recruit, retain and motivate talented members of staff.
An Enterprise Management Incentive (EMI) scheme is an employee share scheme, which permits employers to offer share options to employees as a reward. Both the employee and the employer stand to benefit from the use of an EMI scheme, as long as certain conditions are met.
To be eligible for an EMI scheme, firms in qualifying industries must have total assets under £30 million and fewer than 250 employees. Employees must dedicate 75% of their time to the business to be eligible.
At Bolton Tax Accountants, we have experience in setting up various types of monetary employee incentive schemes, including EMI, and can do so in a tax-efficient and effective way.
We can also advise businesses on their existing employee incentive schemes, and continually review for any tax-saving updates that may become available.
Simply contact us to find out more.