Do you know what an Employee Ownership Trust is or what benefits they can bring?
A business owner looking to sell their shares should seriously consider an Employee Ownership Trust (EOT), not least because if structured correctly the sale proceeds are entirely tax free. But that's just one of many reasons including simplicity and costs, retaining confidentiality and empowering staff. A trust is formed for the benefit of the company employees and after an initial contribution funded by the company profits are passed down through the company over a number of years until the consideration is paid in full. Eventually the company is owned indirectly by the staff and as no cost to them. It's recognised that employee owned businesses outperform other businesses and with the incentive of an annual £3,600 tax free bonus the staff can be financially incentivised. And what better legacy than selling your business to your loyal staff?
Find out more about this and more at www.ross-brooke.co.uk/
www.ross-brooke.co.uk/employe...
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17 май 2024
