Tax-advantaged employee share options granted by qualifying trading companies to selected employees. There are limits on the business activities, assets, ownership and employee numbers of qualifying companies. There are also limits on the value of options granted to each employee and the total value of shares that can be placed under option. However, the EMI option legislation is the most flexible and generous of the UK's four tax-advantaged share incentive regimes. See Practice note, EMI share option plans: overview.