News: August 2013

New tax reliefs to encourage employee ownership

Consultation has started on the following possible reliefs:

• 1. CGT relief when the controlling share of a business is sold into an indirect employee ownership structure.
• 2. Income tax and NICs exemption by reference to an indirect employee owned company paying a certain amount each year to their employees. Employer NICs would also be exempt.

Early days to consider this topic in detail but in the right circumstances it looks like there will be significant tax breaks on offer.