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Hi.Can you tell me what the nature of the "exit event" is and when exactly the EMI share options which you have to exercise were granted to you.
Sorry for delay, but i was out briefly.
The exit event is a sale of 100% of the share capital of my current UK employer. I was granted HMRC EMI options in July 2013 & so the 12 month qualification period is no problem. The issue for me is understanding the relationship between the grant (July 2013), exercise (now), exit (next week) and Enterpreneur's relief/CGT.
Any advice you can give would be welcome.
That's very useful and informative. Thank you. If i may just ask one more question before closing/rating:
The 'disqualifying event' would i guess be the completion of the sale (loss of independence), so i have been given notice to exercise my options at 5pm before the date of completion next week, with the company loaning me the money to pay the exercise price at a sensible rate of interest & taking repayment from the proceeds within a day or two.
I accept that the 90 day claim on ER would apply regardless (thanks for confirming that) but would the exercise before the completion not mean that there was no disqualifying event at all - that is what we are being told at least.
Appreciate the advice, and will close/rate following your reply.