Introduction to employee-ownership

Businesses can engage people to work for them on many different terms. They may have full-time, part-time or fixed-term employees, workers or self-employed individuals. The distinction between these categories is a trade-off between flexibility, control and obligation, for both the employer and the individual.

The Government has introduced proposals for the creation of a new status of employee, the employee-owner.

Under this new status, employee-owners may each receive shares up to the value of £50,000 which will be exempt from capital gains tax on their sale. Employee owners will have the same rights as current employees but will give up the following rights: unfair dismissal (except where this is automatically unfair or relates to anti-discrimination law); statutory redundancy pay; and certain rights to request flexible working and time off for training. They will also be required to provide 16 weeks notice of a firm date of return from maternity leave, instead of the usual eight…

If you are registered and logged in to the site, click on the link below to read the rest of the Goodman Derrick briefing. If not, please register or sign in with your details below.

Click on the link above to download briefing.

News from The Lawyer

Briefings from Goodman Derrick

View more briefings from Goodman Derrick

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

10 St Bride Street
London
EC4A 4AD
UK
http://www.gdlaw.co.uk

Turnover (£m): 11.40
No. of Lawyers: 45