Enterprise Management Incentives (EMI): Option notifications: Annual returns
A company whose shares are subject to a qualifying option at any time during a tax year must complete an EMI annual return. The return must contain the information required by HMRC (Paragraph 52).
Companies are required to make an annual return for each year beginning with the tax year when the first qualifying option is granted and ending with the tax year in which the “termination condition” is met.
A company must therefore make a return (a ‘nil return’) for a tax year even if no EMI options were granted or exercised in the year.