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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Enterprise Management Incentives (EMI): Taxation of EMI options: Disqualifying events – varying the terms of the option

Any variation to the terms of the option will be treated as a disqualifying event if it:

  • increases the market value of the shares that are subject to the option, or
  • results in the requirements of Schedule 5 no longer being met (Section 536(1)(a) ITEPA).