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EMI shares

EMI shares

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I know that under the old rules (pre April 2012), shares received under an EMI scheme would not have received ER if they were not held for a year when the option was exercised.  The period the option was held did not count towards the 12 month qualifying period.

I know that under the new rules (April 2012 onwards), for options granted after 6 April 2012, the period the option is held does count towards the 12 month qualifying period.

Am I correct in thinking that shares exercised and sold straight away in December 2012 where the options had been granted a few years before will not qualify for ER? I can see where the legislation infers this but not with 100% clarification.

Any replies would be appreciated.

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By BKD
11th Jun 2013 10:10

You are correct

The relief applies from 6 April 2013, to shares acquired after 5 April 2012 (the options may have been granted before that date). Had the shares in your case been held until 6 April 2013, relief ought to have been available.

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