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Jan 8, 2025 | 
geldards.com | Andrew Evans
At the last EOT Roundtable event hosted by Geldards in the Autumn the topic for discussion was the issues that can arise when managing the relationships between the trust board, the trading company board and sometimes the seller or founder. Getting the relationship right can have a major impact on the success of the EOT and trading company as disputes between the boards can distract from the day-to-day operation of the business.
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Nov 22, 2024 | 
geldards.com | Andrew Evans
Recently announced changes to inheritance tax planning following the Labour Government’s October Budget are the biggest changes in a generation. This article will cover the following key pointsReduction in inheritance tax relief: The October 2024 Budget introduces a significant reduction in Business Property Relief (BPR) for trading company shares from April 2026, with full relief capped at £1m and only 50% relief on shares exceeding this value.
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Nov 18, 2024 | 
geldards.com | Andrew Evans
Geldards one of the leading advisors on Employee Ownership Trusts has advised Dafydd Hardy Estate Agents on its successful transition to an Employee Ownership Trust (EOT) the first estate agent in Wales, and possibly the largest in the UK, to become employee owned.
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Nov 5, 2024 | 
geldards.com | Andrew Evans
The previous government carried out a consultation on the future of EOTs in July 2023 and the HMRC policy paper published on 30 October 2024 covered a number of issues raised in the consultation. The good news is that the 100% relief from capital gains tax (“CGT”) on a qualifying disposal of shares to a qualifying EOT remains with, surprisingly enough, no upper limit on the amount paid for the shares.
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Oct 23, 2024 | 
geldards.com | Andrew Evans
Geldards one of the leading advisors on Employee Ownership Trusts has advised Orchard Media and Events Group on the successful transition to an Employee Ownership Trust (EOT). Based in Cardiff, Orchard is an award-winning communications agency who has been providing creative communication services to high profile clients such as Admiral Group, Netflix, BBC, Aston Martin, Quatar Airlines for the past fourteen years.
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Sep 18, 2024 | 
lexology.com | Andrew Evans
The National Security and Investments Act (NSIA), which came into force on 4th January 2022, introduced a stringent and wide-reaching UK national security regime requiring Government clearance for certain corporate events before completion. Corporate events that are caught by this regime are void if not notified and cleared beforehand and also not obtaining clearance in advance exposes the acquirer, its group and their directors to civil fines and criminal offences.
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Aug 27, 2024 | 
geldards.com | Andrew Evans
EOT Roundtable – managing the relationship between the EOT board and the management board Our next EOT Roundtable event in Narberth will take place on Wednesday 13th November and concentrate on the relationship between the EOT trustee board and the management board. We will discuss:• The role of the trustee board and the management board• Interaction between the management board and the trustee board• When should the trustee board step in?
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Aug 21, 2024 | 
geldards.com | Andrew Evans
Our next EOT Roundtable event in Cardiff will take place on Wednesday 6 November and concentrate on the relationship between the EOT trustee board and the management board. We will discuss:• The role of the trustee board• Interaction between the management board and the trustee board• When should the trustee board step in? • What happens if the trustee board oversteps its authority? • How you can set boundariesThe event is free to attend.
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Aug 21, 2024 | 
geldards.com | Andrew Evans
Our next EOT Roundtable event in Cardiff will take place on Wednesday 6th November and concentrate on the relationship between the EOT trustee board and the management board. We will discuss:• The role of the trustee board and the management board• Interaction between the management board and the trustee board• When should the trustee board step in? • How you can set boundariesThe event will be free to attend. Registration from 9am for a 9.30am start with departure by 11.30am.
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Aug 20, 2024 | 
geldards.com | Andrew Evans
Geldards recently held EO roundtable events for trustee directors in Cardiff and Narberth. Below are the key learning points that arose from the sessions. All EOTs are different and some points covered may be more relevant to your company than others. Consistency means both the timing and also the information or details shared with the staff. Quarterly information bulletins are most common as they can smooth out some results.
