HMRC Doubles EMI Option Cap to £6 Million, Sets 6 July 2026 Tax Filing Deadline
Updated
Updated · macfarlanes.com · Jun 22
HMRC Doubles EMI Option Cap to £6 Million, Sets 6 July 2026 Tax Filing Deadline
3 articles · Updated · macfarlanes.com · Jun 22
Summary
From 6 April 2026, HMRC raised Enterprise Management Incentives limits to widen access: the company option cap doubled to £6 million, gross-asset eligibility rose to £120 million, and the employee ceiling increased to 500.
6 July 2026 is the key reporting deadline for 2025/26 employment-related securities returns and for P11D and P11D(b) benefits filings, with late submissions triggering penalties; Class 1A NICs are due by 22 July.
HMRC also dropped most ERS reporting for Appendix 4 short-term business visitors where no UK tax or NICs arise, and said employers that missed the 5 April 2026 payrolling registration must use P11Ds for 2026/27 benefits.
From 6 April 2026, employees can no longer newly claim HMRC homeworking tax relief of up to £6 a week, while employers can now reimburse eye tests, flu jabs and qualifying homeworking equipment tax-free.
The update also confirms 2026 minimum-wage rates apply from the first pay period after 1 April and keeps student-loan deduction rates at 9%—6% for postgraduate loans—above new thresholds.