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Most tax efficient way to grant share options?

I have been offered a job at a start up with options over £155K of shares plus a sign on bonus of a £20K share gift.
  • My basic question is what is the most tax efficient way for them to give me these options and shares?
  • I understand that £120K worth of the shares can be placed in an EMI share option scheme and thus be taxed at 18% of the gain on exercise and sale. How should the remaining £35K be sheltered?
  • Is there a way for them to give me a £20K share gift on joining the company without me having to pay income tax on the £20K?
Thanks very much for any advice!!

C.

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