EMI valuation report sample
An EMI valuation is used to assess the actual market value (AMV) of your company’s ordinary shares. It determines the lowest price at which you can grant options under the UK’s EMI scheme.
You need a valid company valuation to issue EMI options to your employees. EMI valuations expire after 90 days or following a material event, such as a funding round.
Why do I need a valuation report?
To guarantee EMI tax benefits for your company and its employees, you must file a valuation report with HMRC. The report presents a calculation of the UMV and AMV of your shares. If approved, you receive pre-clearance from HMRC to grant share options at this price.
We've prepared a best-practice report to give you an idea of what to expect when working with Carta's valuations team.
Company valuations from Carta
Our in-house experts have experience delivering accurate, audit-defensible valuations for a range of clients across industries and growth stages. We’ll support you throughout the process and handle any negotiations with HMRC. Book a free consultation to learn more.
DISCLAIMER: The following terms apply to your use of this document and your agreement to these terms is required before you are permitted to use this document. This document is provided for your reference only and is not intended to serve as legal, tax, or financial advice. You acknowledge and agree that the making available of this document to you by eShares, Inc. dba Carta, Inc. (“Carta”) shall not constitute the provision of legal service or other professional service by Carta. You should seek advice from an attorney licensed in the relevant jurisdiction(s), tax professionals, accounting professionals, and financial professionals before relying on this document. You further agree and acknowledge that this document has not been prepared with your specific circumstances in mind, may not be suitable for use in your business, and does not constitute tax advice. Relying on this document, you assume all risk and liability that may result.
USE OF THIS DOCUMENT IS ENTIRELY AT YOUR OWN RISK. This document is provided “as is” without warranty of any kind, either express, implied, or statutory, including without limitation, warranties of merchantability, fitness for a particular purpose, satisfactory purpose, title or noninfringement. Some jurisdictions do not allow the exclusion of implied warranties, so these exclusions may not apply to you.
© 2026 eShares, Inc. dba Carta, Inc. All rights reserved. Reproduction prohibited.