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EMI Share Allocation Umbrella

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    EMI Share Allocation Umbrella

    I have a friend who is inside IR35 and therefore cannot go the Ltd Company route... his new contract starts on Monday. I thought his only option would be to go to an umbrella company. But he has had a quote from someone offering an EMI Share Options umbrella solution...

    HMRC has this to say:
    HM Revenue & Customs: Enterprise Management Incentives

    "The options must be granted for commercial reasons to recruit or retain employees in a company, and not as part of an arrangement, one of the main purposes of which is to avoid tax. (Para 4 Sch 5)."

    ... I am worried he is taking a risk but he is very tempted as the difference in take-home pay is a few hundred quid a month! Does anybody have experience of these loan/share schemes? It seems to be well shonky...

    Thanks, J

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