Yorkshire business owners should trust in free webinar event

Cathy Cook LCF Law 11.05.21

A free webinar offering advice and guidance to business owners on how to sell a company to its employees via an Employee Ownership Trust (EOTs) is taking place on April 27.

Run by leading law firm, LCF Law and accountancy firm, Sagars, EOTs have become an increasingly popular method for business owners to exit a business in recent years.

Partner, Cathy Cook from LCF Law’s corporate division, said: “EOTs are tax efficient and can engender staff loyalty, but they are complex and not right for every business. There are many legal and tax implications, but when they’re done well, they can be hugely successful, and we’ll explore the main issues during the webinar.”

An EOT is an employee benefit trust established by the company for the benefit of the company’s employees, which then acquires the shares in the company from the selling shareholders.  In order to qualify for the tax benefits, the EOT must meet specific criteria, both at the time it acquires the shares, and afterwards, once it is in control of the company’s shares.

The webinar will run from 9am to 10am on Wednesday, April 27. Cathy Cook will explain how to structure and plan an EOT and the risks involved. Sagars’ business tax partner, Kate Naylor, will explain the tax rules and share thoughts on succession planning and funding, and senior associate, James Austin, from LCF Law’s employment division, will explain how an EOT distributes profits and pays bonuses. There will be a 15-minute Q & A session at the end of the one-hour presentation.

Susan Clark, partner and head of corporate at LCF Law, said: “We have hosted numerous successful webinars providing free guidance for businesses over the last few years, which have attracted hundreds of attendees. This one on EOTs is bound to be popular, so we’d urge anyone interested to register now to secure a place.”

To register click here: https://www.eventbrite.co.uk/e/what-is-an-eot-and-would-it-work-for-you-tickets-294663064157?keep_tld=1 or call 01274 848 836 or email events@lcf.co.uk

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