On 4 April 2018, HMRC issued an announcement11 confirming that EU state aid approval for EMI options would expire on 6 April 2018.

In the Bulletin, HMRC state that an application has been made for renewal of the approval but that there is a possibility that EMI options granted after 6 April 2018, but before any such renewal is approved, may not receive the usual tax-advantaged EMI treatment.

HMRC has, however, confirmed that EMI options granted up to 6 April 2018 should not be affected.

The HMRC Bulletin can be viewed here.