EMI Share Option Schemes
HMRC's most generous share option scheme for SMEs, handled end to end. One fixed fee, five documents, barrister-drafted. Most schemes delivered in three to four weeks.
EMI is HMRC's most generous share option scheme for SMEs. It lets a company grant share options to key employees with no income tax or NICs on grant, and capital gains treatment on exercise.
For the right business, it is one of the most effective tools available to attract, retain and reward the people who are building it with you — without spending cash you do not yet have.
Most founders put it off because it feels expensive and complicated. It does not need to be either.
Options replace some of the cash, letting you compete with businesses that can match the salary you cannot yet offer. The upside is real. The cost today is nil.
Vesting schedules and good leaver provisions tie the people who matter to the business through the years when it actually gets built. Aligned incentives, properly documented.
When the exit comes, the team shares in it. With EMI, that share is taxed at capital gains rates — not income tax — which means more ends up in people's pockets, not HMRC's.
What you get
Everything you need to adopt the scheme and grant options. Drafted to current HMRC requirements and tailored to your business. Click any document to see what is covered.
What is not included: HMRC valuation (VAL231), EMI post-grant notification, ongoing scheme administration, and heavily bespoke performance targets. We can help with all of these — just not within the fixed-fee package.
Pricing
First-time scheme, typical SME structure
+ VAT — fixed fee
Covers the full five-document package. Applies to most first-time schemes for a straightforward SME. We confirm which tier applies before you commit.
Bespoke or layered requirements
+ VAT — quoted case by case
Multi-class share structures, unusual performance targets, group structures. We quote up front and stick to it. Same five-document package, same quality.
Same scheme, new option holder
+ VAT per employee
An Option Agreement on the same scheme terms, ready to issue to a new employee. No need to revisit the Scheme Rules.
How it works
Designed so you do as little as possible. The bulk of the work sits with us.
A short call or email. We find out about your business and work out whether your scheme is standard or complicated. No commitment required.
You complete a structured questionnaire built to capture everything the drafting decisions depend on. Takes around 30 to 45 minutes.
We send a short report covering the choices to make on vesting, leavers, performance targets and the rest. You make the calls — we advise on the options.
Standard or complicated — confirmed in writing. You know the number before anything starts. No surprises later.
One-click payment. We start work.
The scheme documents are drafted by a specialist barrister. Silva project manages, reviews and quality controls. You are kept updated throughout.
Final pack delivered to you, ready for board adoption. Five documents, HMRC letter ready to submit. You are done.
Who delivers your scheme
Every scheme is drafted by a specialist barrister and project managed end to end by Silva. The drafting quality is the same whether your business has four employees or forty.
Barrister, Solicitor and LLM. Founder of Silva Lex Ltd. Decades of experience across in-house roles, private practice and advisory work for growing businesses.
Your point of contact from first call to final delivery.
Silva Lex LtdGet started
A short call or email is all it takes. We will confirm whether your scheme is standard or complicated — and give you a fixed fee before anything starts.
Or email hello@silvalex.co.uk directly.