EMI vs CSOP vs SAYE vs SIP Share Scheme Comparator 2026/27
UK share scheme comparator 2026/27 - EMI £250k SME, CSOP £60k larger co, SAYE all-employee monthly save, SIP free + partnership + matching shares. Tax treatment + limits + decision guide.
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?
Enterprise Management Incentives (EMI): no income tax at exercise + Business Asset Disposal Relief (BADR) 18% on sale = most efficient. Reserved for SMEs only.
SAYE or SIP: which fits an all-employee scheme?
Save As You Earn (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.
How are cross-border employees taxed on share awards?
US RSU + UK employee = workdays apportionment + FTCR. Specialist tax advice essential.