Q:

Is Furlough a "covered circumstance" for those holding EMI Options?

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Rachel Amos
The Senate
03 Apr 2020

A: SenseCheck

  • 0 Yes
  • 0 Unclear
  • 2 No
SenseCheck complexity

Newest Answer Oldest Answer

  • 05 May 2020
  • No

    Complex

    This is also going to be something that will cause a fair bit of friction down the line. There will be many employees who will claim if I knew my EIM relief would expire I would not have taken furlough.
    I think its only equitable that the relief is lost if the companies would not survive and jobs be lost without the government paying the 80% where then the value of the options would be zero along with no job. Keeping a company going with jobs and an opportunity to get a capital gain for employees V paying tax on that gain seems fair to me

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    Paul
    Gooner Holdings

  • Comment

  • 03 Apr 2020
  • No

    Complex

    Para 26(3) currently provides that the requirement for working time does not include injury, ill-health or disability, / pregnancy, childbirth, maternity or paternity leave or parental leave, / reasonable holiday entitlement / not being required to work during a period of notice of termination of employment. Furlongh not currently included. https://www.legislation.gov.uk/ukpga/2003/1/…

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    Rachel Amos
    The Senate

  • Comment