EOT’s were facilitated and created by the Finance Act 2014, to encourage more companies to become employee owned.
Employee ownership is where all employees have a ‘significant and meaningful’ stake in a business.
An EOT places a majority of its company shares into a Trust, for the benefit of its Employees; an EOT may also issue shares directly to Employees as part of share incentive plans.
The shares held in Trust for Employees will provide various benefits to Employees, including a share of any future sales proceeds of the Business, as well as tax-free bonuses up to a certain limit.
Platinum ECO Services Ltd (as well as our trading brand Platinum Park Homes Services), is an EOT and is majority owned by its employees.
The current owner of the business decided to create an EOT for his Employees, as part of an ongoing and inclusive approach toward incentivising and rewarding Employees’ commitment and hard work.
