Employee Ownership Trusts
Employee Owned Businesses (EOB) are growing in popularity. Statistics show that giving employees a say in how the business is run incentivises their performance, increases productivity and leads to higher turnover and profit figures.
There are tax advantages too. No capital gains tax is due when you sell your shares to an Employee Ownership Trust (EOT), compared with 10% charge on a standard shares sale, and an annual bonus of up to £3,600 can be paid to employees without being subject to income tax, where the Trust owns over 50.5% of the business.
There are different forms of EOBs that are suitable for every sector and all sizes of business, whether you have 3 employees or several thousand. If you would be interested in finding out more about setting up an employee ownership trust, please contact our specialist team at our Fareham office.
For more information, please visit www.employeeownership.co.uk