Material disposal (sale or gift) of relevant EMI shares in a company acquired on or after 6 April 2013

'Relevant EMI shares' are those acquired through qualifying options under an enterprise management incentive scheme which have been exercised within 10 years of grant. If the options are exercised due to a disqualifying event (as defined in ITEPA 2003, ss 533-539) then the options must be exercised within 90 days of that event to qualify for relief. Any EMI options exercised on or after 6 April 2012 which were not sold in 2012/13 are also treated as relevant EMI shares for these purposes. For a full discussion of the effect of a reorganisation on whether the EMI shares qualify for entrepreneurs' relief, see Here . For HMRC's guidance see here. TCGA 1992, ss 169(7C)-(7E); FA 2013, Sch 24, para 6

For more on EMI schemes see the Enterprise Management Incentives guidance note.