Six months on from becoming Employee Ownership Trust owned - Peter Doyle CEO
We became EOT majority owned in September last year and the months since have been an exciting time for us. It was particularly pleasing to see our first EOT staff bonus awards with employees each receiving tax free sums of up to £3,600. Another development has been the setting up of an Employee Ownership Trust (EOT) Service to advise vendors interested in selling their businesses to their employees. This is led by EOT veteran Garry Karch who has advised on over 150 transactions and our own personal experience of becoming one of the first sizable UK professional services business to become EOT owned.
With the coming Budget expected to scrap Entrepreneurs Relief, the EOT route will look even more attractive for owners wanting to step back from the business and legacy they’ve built, whilst getting a financial return for their effort and investment without capital gains liabilities.
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