Income Tax (Earnings and Pensions) Act 2003 Schedule 5 paragraph 50

Appeals

Schedule 5 paragraph 50 sets out the rights of employer companies and individuals to appeal against decisions made by HMRC officers in relation to enterprise management incentive (EMI) share options.

• The employer company may appeal an HMRC decision that proper notice of the option grant was not given, or that the option does not meet the requirements of Schedule 5
• An individual option holder may appeal an HMRC decision that they do not meet the working time commitment requirement
• Any appeal must be formally notified to an HMRC officer within 30 days of the date the closure notice is issued to the appellant
• These appeal rights ensure that both companies and individuals have a formal route to challenge adverse HMRC decisions regarding EMI options