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Our response to the Government consultation on EOTs and EBTs

In July of this year the Government launched a consultation to ‘seek views on proposals for targeted reform to the Employee Ownership Trust (EOTs) and Employee Benefit Trust (EBTs) tax regimes to ensure that the regimes remain focused effectively on the policy objectives of encouraging employee engagement’. The consultation closed on Monday 25th September and our response to the questions outlined are summarised here…

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Employee Ownership within Law Firms – a growing trend?

Of the approximately 9,500 solicitors firms in the UK, an estimated 20 are now employee-owned, in most cases through an employee ownership trust (EOT).  A tiny percentage, yes, but one which I believe is set to grow over the coming years as practices grapple with multiple challenges which for many will make the traditional partnership model no longer fit for purpose.

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