Introduction Summary
1.Section 64 introduces Schedule 24 which extends entrepreneurs’ relief to the disposal by an employee or officer of a company of shares in that company or a company in the same trading group when the shares meet the requirements of the enterprise management incentives (EMI) scheme. Relief applies from 6 April 2013 where the shares were acquired on or after 6 April 2012 as a result of that person exercising a qualifying option over them and that option had been granted at least one year before the date of the share disposal. The person disposing of the shares must have been an employee or officer of the company (or a company in the same trading group) throughout the year ending with the date of disposal. The relief is also extended to similar disposals that take place within three years of the company ceasing to be a trading company.