Deal Completed – 2023 Hawsons Corporate Finance had the pleasure of supporting Caring Hands (Care Services) Limited (“Caring Hands”), a well-established domiciliary care business, with their transition to Employee Ownership. Based in Alfreton, Derbyshire, the company...
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HMRC plans points-based penalties for Self-Assessment
HMRC have announced that from April 2026, the existing penalty system for late filing of tax returns under Self-Assessment will be amended to a points-based system for self-employed people and landlords with turnover above £50,000. This coincides with those...
Eligibility criteria for employee ownership trusts (EOT)
Why has the qualifying criteria been put in place? The economic contribution of employee-owned businesses in the UK is significant and growing. Greater productivity and higher levels of innovation whilst being more resilient to economic turbulence are some of the...
Employee Ownership Trust (EOT) Benefits for Employees
In this article, we are going to discuss the benefits to employees of a company owned by an EOT, compared to a more traditional limited company or partnership. What does being in an EOT mean for an employee? Employees of a trading company (or group) owned by an EOT do...
Trustees and their role in an Employee Ownership Trust
Who are the trustees of an employee ownership trust? The trustees are the directors of the corporate trustee company which holds the shares in the trading company/group. Their role is to ensure that the company is being managed (by the directors of the trading...
Employee Ownership Trust accounting treatment
Accounting treatment of an EOT The EOT becomes the owner of the company, usually via a corporate trustee company (“the Trust”) set up to hold the acquired shares. The trust is administered by trustees on behalf of the employees, these trustees are statutory directors...
Employee Ownership “Dividends”
How are profits distributed following EOT ownership? EOT’s are a form of indirect company ownership and as such dividends would not get paid directly to employees should they become payable. When profits and cashflow allow, a contribution can be made to the trust...
Employee Ownership Trust Disadvantages
Disadvantages of EOTs for business owners EOTs are still a relatively modern concept and one which may seem quite overwhelming to some business owners. If not structured correctly, an EOT disposal could see exiting business owners waiting too long for their...
Business in the United Arab Emirates (UAE)
The middle east has become a desirable place to set up business. It has a world class infrastructure as well as a welcoming tax environment and efficient processes and procedures. The United Arab Emirates is a young country, established on 2 December 1971, combining...
Spring Budget 2023
Spring Budget 2023 Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The...
Spring Budget 2023 – Key tax announcements
The Chancellor Jeremy Hunt has announced his Spring Budget which took place this afternoon. We have highlighted below some of the key tax changes announced by the Chancellor. Corporation tax The Chancellor confirmed that he is going ahead with increasing the...
When is the 2023 Spring Budget?
Chancellor Jeremy Hunt will deliver his 2023 Spring Budget on Wednesday 15th March 2023. What time is the Budget? The Budget is expected to take place at about 12:30 pm, straight after PMQs. The first part of the statement typically begins with a review of the...