Company-funded advice required for employee shareholder agreements

Approval of the introduction of the employee shareholder status has finally been given by Parliament, but only after a number of amendments to the relevant legislation were agreed by the government. Under government proposals, employee shareholders can receive between £2,000 and £50,000 worth of shares in their employer company (or a parent of their employer company), which will be exempt from capital gains tax. In exchange, the employee shareholder agrees to give up certain statutory employment rights, including the right to bring most types of unfair-dismissal claims and the right to a statutory redundancy payment.

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