What would hmrc do in this scenario:
A new start-up company we will call TheCompany, Grant's emi share options to employee(me) with an exercise price of 10p.
EMI agreement gets signed by employee on the 1st of January before the deadline or they lose their shares.
TheCompany submits their first val231 to hmrc on 1st of February with AMV of 50p and UMV of 60p and is subsequently approved by hmrc.
TheCompany then submits the employees emi agreement to hmrc for the first time with exercise price of 10p.
Thank you in advance.
Edited to add: val231 was approved by hmrc.