Various forms of employee ownership of businesses have been around for a long time. For example everyone knows that John Lewis is owned by its employees and that business is well over 100 years old. Indeed there is a support organisation for employee-owned businesses the Employee Ownership Association (www.employeeownership.co.uk). Its website tells us that employee-owned businesses achieve higher productivity and greater levels of innovation than other businesses and are more resilient to economic turbulence. Furthermore the workforce tends to be more engaged and more fulfilled and importantly in this day and age less stressed.
Following the report by Graeme Nuttall into employee ownership in 2012 (Sharing success: the Nuttall review of employee ownership (tinyurl.com/NuttallReport)) and despite the fact that that report did not specifically suggest any tax incentives legislation was introduced by the Finance Act 2014...
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