"Enterprise Management Incentive" (EMI) share option plans are intended to reward and retain "key employees" in small companies. The effective tax rate for such people on the profit they make on EMI options can be as low as 18%, against up to 50% on options without "tax approval". The upper limit of £100,000 has been increased to £120,000 from 6 April 2008 on the initial value of options that can be held by any employee.

A procedure is available whereby the company can ask for advice from the Revenue about whether it meets the basic conditions for granting EMI options.