An Employee Ownership Trust is a special type of trust that holds a controlling interest in a company on behalf of its employees introduced by the UK Government to promote employee ownership. This structure allows business owners to sell their company to the trust, which then operates the business for the benefit of all employees. EOTs are increasingly popular as they provide significant tax advantages, promote employee engagement, and help preserve the company’s legacy.
Key benefits of an EOT include:
Transitioning to an EOT involves several key steps:
If you’re considering transitioning your business to employee ownership through an Employee Ownership Trust, expert legal advice is essential. Contact Lawson West Solicitors today to discuss how we can support you in establishing an EOT.
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