How to manage both EMI and unapproved share options on a company sale/exit

When your company goes under the due diligence spotlight, an aspect that will be under intense scrutiny will be any form of share options/awards scheme. It is imperative that your company has met the HMRC standards in relation to these schemes, so as not to delay or adversely impact the sale of the company. This is because if a problem has been found then the time taken to correct the error with HMRC will likely be greater than the time span of the sale and with the added detriment that there is unlikely to be a tax-efficient solution and you can find that your buyer wants to escrow sale proceeds or obtain specific indemnities to protect against any uncertain tax costs for the company.

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How declarations of trust work

Your parents would like to give you and your partner £50,000 to help you buy your first house, but they want you to set up a declaration of trust to ensure their money is protected. Although you have heard of the legal term “declaration of trust”, you do not genuinely understand what it is or why do you need one.

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