ETASSUM58010 | Enterprise Management Incentives (EMI): Supplementary and Definitions: Market value of shares

Paragraph 55, Schedule 5 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA)

The market value of EMI shares is as set out in Part 8 of TCGA 1992. If the shares carry restrictions that affect their value, they are treated as being unrestricted for the purpose of the £250,000 individual limit and the overall £6 million or £3 million limit for the value of shares in the relevant company. The restrictions on the shares are taken into account for all other purposes.