1. Create employment, consultant, advisor agreements for your team members, promising them share options with a vesting schedule and Good & Bad Leaver provisions.
  2. Create an Options Pool with sufficient options for current and upcoming team members.
  3. Update your Articles to support options (we do this automatically when you do a funding round on SeedLegals).
  4. Learn more about the different types of option schemes - we'll assume you've chosen the EMI Scheme for the purpose of this article.
  5. Go to your SeedLegals dashboard, click to create your EMI Options Scheme on SeedLegals
  6. Define your Option Plan (we'll take you through it step by step)
  7. Complete and agree your company valuation, in conjunction with our accounting partner, it's all included.
  8. Submit VAL231 to HMRC SAV with backing documents.
  9. …wait….
  10. HMRC response arrives, agree with it or haggle. 
  11. The HMRC agreement holds for 60 days.
  12. Pass resolutions and grant options to team members, issue them with beautiful options certificates (the SeedLegals platform helps you take care of this easily).
  13. You have 91 days to formally register the scheme from this date.
  14. If you haven't done so already, register for PAYE online.
  15. Register the options scheme through PAYE online.
  16. Add individual option holders to the scheme.
  17. Don’t forget to file your next Annual Return!
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