Employee Ownership Trusts (or EOTs) were created in 2014 as a way of encouraging businesses, particularly small to medium sized, to transition to employee ownership. Numbers have accelerated in the last couple of years. Recently the Chartered Institute of Taxation has urged the government to modify the EOT tax regime. Some of our own members have drawn potential abuse to our attention.
We believe the aim must be both to encourage the set-up of EOTs and to work with HM Treasury to minimise abuse.
Your help will be an important factor in achieving these vital aims.
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