EMI eligibility expands from April 2026
Get ready now by finding out where you stand.
The expansion of EMI eligibility gives larger UK businesses new flexibility to scale equity more broadly. For companies with 200–500 employees, this is a timely opportunity to introduce or formalise EMI in a way that works long term.
You can read more about the new rules and what’s changing here.
At this stage, many businesses find that:
Admin pressure increases
Equity participation grows faster than reporting and controls. Are approvals, reporting, and admin starting to rely on manual workarounds and one or two key people?
Governance concerns mount
Board and investor scrutiny increases. Is your equity data consistent, auditable, and clearly owned or spread across advisers, spreadsheets, and various systems?
More options = More confusion
Existing schemes and historic decisions create complexity and raise questions. How clear are you on how EMI would fit alongside your existing schemes, grants, or historic arrangements?
Robust tech becomes a necessity
Manual processes and advisor dependency introduce hidden risk. Do you have direct visibility over your equity data, or are you dependent on external parties to answer basic questions?
You’ll be scored against the following key areas:
You’ll be assessed on equity conviction, governance risk, scale complexity, and timing urgency – the four factors that determine whether EMI remains an enabler as your business grows, or becomes a source of risk and rework.
Governance readiness
How prepared your business is to operate EMI in a way that would stand up to audit, investor review, or future diligence, even if a scheme is not yet in place.
This shows where additional structure, ownership, or systems may be needed before EMI is rolled out more broadly.
Participation depth
How widely EMI is likely to be offered to the wider team, beyond just senior leadership. And how much of the team will be involved in it's management.
This highlights how participation levels may affect complexity, administration, and governance as EMI affects more of the business.
Milestone pressure
How close your business is to events that typically force EMI decisions, such as fundraising, rapid headcount growth, or increased governance demands.
This clarifies whether EMI planning is a future consideration or something that would benefit from being addressed sooner.
Equity ecosystem
How the size and intended reach of an EMI scheme interact with any existing equity, option, or share arrangements in your business.
This highlights where prior grants, eligibility constraints, or parallel arrangements may influence how EMI needs to be structured and managed.
