Income Tax (Earnings and Pensions) Act 2003 Schedule 5 paragraph 12

The gross assets requirement

Schedule 5 paragraph 12 sets out the gross assets requirement that must be met for a company to qualify under the Enterprise Management Incentives (EMI) scheme.

• A single company's gross assets must not exceed £30 million in value.
• Where a parent company is involved, the combined gross assets of the entire group must not exceed £30 million.
• Group assets are calculated by adding together the gross assets of every member of the group.
• Intra-group items such as rights against, shares in, or securities of another group member are excluded from the calculation.