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John M Taylor & Co | Accountants Paisley/Taxation/Vat Returns/Business Start Ups/Sage/Payroll/Bookkeeping

New Employee Shareholder Status Now Law

After much debate the Growth and Infrastructure Act is now law.

One of the clauses contained within the Act introduces a new employee shareholder employment status, under which an employee or new recruit can agree to trade certain employment rights for shares in the company.

The House of Lords finally accepted the clause after the government made a number of concessions.  One new requirement is that an offer being made under the new contract contains details of the rights being sacrificed and that the individual receives independent legal advice which will be paid for by the employer.

Internet link: Legislation

Posted - 23/05/2013

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