Reliable, proactive accountancy services for great small businesses.
May 29th 2019

Selling your Business to an Employee Ownership Trust

We're delighted to be associated with today's Employee Ownership Trusts roadshow event, hosted by The Law Society of Scotland, Institute of Chartered Accountants of Scotland and Co-operative Development Scotland. The roadshows are designed to raise awareness of and inform both clients and professional advisers about employee ownership as a business succession model.

There has never been a better time for companies to move to an employee ownership structure. Since September 2014, shareholders have been able to sell a controlling interest in their company to an Employee Ownership Trust (EOT) for full market value without incurring any Capital Gains Tax liabilities.

The EOT creates an immediate purchaser for a trading company of any size operating in any sector and holds those shares in the business for and behalf of the employees. There are substantial non-tax benefits associated with being owned by an EOT, with one of the most important being the fact that employees have a stake in their company – resulting in greater employee engagement and commitment. In addition, companies can make tax-free payments to their employees.

If you are interested in finding out more about Employee Ownership Trusts please contact Karen, Ivan, Ryan or Diane.

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