UK Share Scheme Comparator 2026/27
EMI vs CSOP vs SAYE vs SIP vs unapproved vs RSU - tax treatment + limits + target employee group.
Scheme comparison
| Scheme | Employee limit | Tax at grant | Tax at exercise | Tax at sale | Best for |
|---|---|---|---|---|---|
| EMI | £250,000 | None | None (if at MV grant) | CGT only, BADR 18% possible | SME key staff |
| CSOP | £60,000 | None | None (if 3yr+ at MV) | CGT (standard, no BADR) | Larger companies, key staff |
| SAYE | £500/month savings | None | None | CGT | All employees, broad engagement |
| SIP | £3,600 free + £1,800 partnership + 2:1 matching | None | None (if 5yr+ in plan) | None (if 5yr+ in plan) | All employees, retention |
| Unapproved options | None | None (typical) | PAYE + NI on (MV - strike) | CGT on further gain | Where above approved limits |
| RSU | None | None | PAYE + NI on full MV | CGT on further gain | Listed multinational corporate |
Frequently asked questions
Which scheme is most tax-efficient?
EMI: no income tax at exercise + BADR 18% on sale = most efficient. Reserved for SMEs only.
SAYE vs SIP for all employees
SAYE: option to buy + cash refund if shares fall. SIP: free + partnership + matching shares held in trust. SIP more generous but lock-in 5 years for tax-free.
Cross-border employees
US RSU + UK employee = workdays apportionment + FTCR. Specialist tax advice essential.