William Franklin, Partner at Pett, Franklin & Co LLP, has been featured in The Architects’ Journal for his expertise in assisting companies with their transition to an Employee Ownership Trust (EOT) model of ownership.
The EOT model – sometimes referred to as the ‘John Lewis model’ – has garnered government support through the provision of generous tax reliefs for both vendors and employees of the company. Additionally, the commercial benefit for the company itself should not be understated. Whilst many directors are initially attracted to the potential tax breaks, others have cited increased staff productivity as a major advantage. Quoting William Franklin, the article sheds light on the potential for younger people who may not have the financial capacity to buy into their companies, to do so via the EOT model.
EOTs may prove particularly attractive for succession planning purposes by retiring business owners who are keen to ensure the continuity of their business after they have stepped down. Most companies who have transitioned to an EOT model of ownership recommend seeking expert advice to ensure that the best possible outcome is achieved.
Pett, Franklin & Co. LLP are experts in employee share schemes, executive incentives and share valuation. To find out more about how we can help you or your client, please contact William Franklin on firstname.lastname@example.org or call 0121 348 7878.