CIOT calls for action to improve effectiveness of employee ownership regime

Released 12 October 2021

The Chartered Institute of Taxation (CIOT) is calling on the Government to review the tax regime for Employee Ownership Trusts to encourage take-up and discourage their abuse.

In a representation ahead of the Autumn Budget on 27 October 2021, the CIOT is calling on the Government to consult on options for changes to the tax regime to:

eliminate unnecessary costs in transferring to employee ownership;

remove a potential exchequer risk where the tax breaks are used to save tax without real commitment to employee ownership; and

to achieve the policy objectives of promoting employee engagement more effectively.

Further details can be found at https://www.tax.org.uk/tax-institute-calls-for-action-to-improve-effectiveness-of-employee-ownership-regime.

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