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.
