New employee shareholder status finally law
After much debate the Growth and Infrastructure Act is now law.
One of the clauses contained within the Act introduces a new employee shareholder employment status, under which an employee or new recruit can agree to trade certain employment rights for shares in the company.
The House of Lords finally accepted the clause after the government made a number of concessions. One new requirement is that an offer being made under the new contract contains details of the rights being sacrificed and that the individual receives independent legal advice which will be paid for by the employer.
There are likely to be tax advantages for the employee and the employer, if you would like to talk to a member of our tax team about this please don’t hesitate in contacting us on 02476 518 555 or 0121 711 2468.