Employee Ownership Trusts
My client is a director and majority shareholder of a successful trading company (“the Company”), and as he is approaching retirement, we are discussing succession issues. The client has had many offers for his business, but he prefers not to sell to a competitor. He wants to realise a capital gain in recognition of his success but also wants to incentivise his loyal employees which also include some of his children. We are exploring an Employee Ownership Trust (“EOT”). My client wants to know if his children could also benefit from the EOT.
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