In the Budget on 30 October last year, various changes were announced to the rules on sales to employee ownership trusts (EOTs). Most of the changes were aimed at tightening up the conditions for CGT relief, seemingly to address perceived abuse, examples being:-extending the period for disqualifying events (under which the CGT relief is withdrawn) from one to four tax years after the tax year...
Read moreEOTs were introduced to promote employee ownership of companies, and the tax benefits (the principal one of which being a complete CGT exemption for the selling shareholders on the sale of a controlling stake in the company to an EOT, subject to various conditions) were intended to encourage such transactions and ownership structures. A consultation into EOTs was announced as part of Budget 2023...
Read moreParisi Tax is a specialist tax law firm. Our clients benefit from having on-demand access to a wealth of tax knowledge and deal expertise.
Services