Draft legislation (accessible version)
Updated 23 November 2023
漏 Crown copyright 2023
This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gov.uk.
Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.
This publication is available at /government/publications/enterprise-management-incentives-extension-of-the-time-limit-to-submit-a-notification-of-a-grant-of-options/draft-legislation-accessible-version
Enterprise management incentives: notifications
(1) Part 7 of Schedule 5 to ITEPA 2003 (enterprise management incentives: notification of options) is amended as follows:
(2) In paragraph 44(1) (time within which notice of options must be given to HMRC) for 鈥渨ithin 92 days after the date of the grant of option鈥� substitute 鈥渙n or before 6 July following the end of the tax year in which the option was granted鈥�.
(3) In paragraph 46(5) (time for giving of notices of enquiry) 鈥�
a) for 鈥渆nd of the period of 92 days鈥� substitute 鈥渄ate鈥�;
b) for 鈥減eriod within鈥� substitute 鈥渄ate by鈥�.
(4) The amendments made by this section have effect in relation to share options (within the meaning of the EMI code (see paragraph 59 of Schedule 5 to ITEPA 2003)) granted on or after 6 April 2024.