ETASSUM56140 - Enterprise Management Incentives (EMI): Option notifications: Appeals

Paragraph 50, Schedule 5 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA)

An employer company may appeal against a decision by HMRC that:

• notification of the option was not given in accordance with the requirements, or
• the requirements of the Schedule are not met in relation to the option.

An employee holding an option can appeal against a HMRC decision that he does not meet the working time commitment requirement.

The notice of appeal to HMRC must be given within 30 days of receiving the closure notice.