Whereas it used to cost between £2500 - £5,000 to set up an option scheme, (with schemes for more than 50 employees costing £10,000 - £20,000), SeedLegals new EMI service lets companies set up an EMI Option Scheme online for £1500 flat fee.
Setting up an EMI Option Scheme used to be a complex and time-consuming process, with months spent creating the paperwork with lawyers and accountants. Technology and automation has now changed that for good. Now, in just a few clicks, anyone can generate the option scheme paperwork and issue equity to their team.
Setting up an EMI Option Scheme online
There are 2 parts to setting up an EMI Scheme:
- Getting an HMRC approved EMI Valuation (done through accountants)
- Setting up the EMI Option Scheme paperwork (done through lawyers or accountants)
You need both to successfully set up your scheme however if you have recently raised equity funding, you can sometimes skip the first step and use the valuation from your last funding round instead.
To get started creating your EMI Option Scheme, simply sign up free to SeedLegals, create your company and select the EMI Option Scheme from your company dashboard.
To do your EMI Valuation should you need one, we’ve partnered with Blu Sky chartered accountants who’ll liaise with HMRC for you for a £750 flat fee. Simple add it to your EMI Scheme on SeedLegals when prompted.
Follow our step-by-step wizard to generate all the paperwork you need, or if you’d like assistance getting set up you can get a free guided walk-through with one of our EMI experts for help at any time. 😊
EMI Option Scheme: Pricing breakdown
EMI Scheme Set up: £1500 one off flat fee
EMI Valuation: £1000 (optional)
Ongoing support: £19 per month (optional)
✔ Flat pricing - Add up to 250 employees.
✔ Add an EMI Valuation for £1000
✔ Get unlimited customer support for £19/mo
✔ Manage & track vesting online
✔ Add and remove employees at any time
✔ It’s your share scheme. There’s no platform lock-in. Download and leave SeedLegals anytime.
Questions or need help getting set up?
Book a guided walk-though with one of our EMI experts. They’ll help you get set up on SeedLegals and be on hand to manage your scheme every step of the way. ✌