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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Enterprise Management Incentives (EMI): General requirements: Inclusion of Schedule 4 CSOP options in individual limit

The individual limit includes the value of any Schedule 4 Company Share Option Plan (CSOP) options granted by the employing company and any companies that are members of the same group of companies. A Schedule 4 CSOP option is an option to acquire shares granted under a scheme that meets the requirements of Schedule 4 ITEPA and the maximum value of shares which may be subject to a Schedule 4 CSOP option is £30,000 (see ETASSUM41180).

The value of the shares under option for this purpose is the value of the shares at the time the option was granted (Paragraph 5(6)).