The Companies Act 1985 made it illegal for any UK company, or any of its subsidiaries, to give any form or Financial Assistance (loans, gifts, guarantees or any other form of security), directly or indirectly, for the purpose of purchasing shares in itself at the time of the acquisition, or in the period following the… Read more »
Tax Free Company Exits; Employee Ownership Trusts, EOTs, can allow Owner Directors to sell their companies without paying any Tax. Before April 2020, subject to meeting certain criteria, director shareholders could sell their shares and only pay 10% on gains up to a lifetime limit of £10m. That was the Entrepreneurs Capital Gains Tax Rate. … Read more »
Leading Better Performing Teams. People naturally want to do well, both for themselves and others. Make it as easy as possible for them to do this. Explain to them what the team’s purpose is and why it is worth doing well. This should not be about making more sales or profits for the company. It… Read more »
Strategic Report s172 Duty CA2006 Large companies must explain, in their Strategic Reports, how their directors have fulfilled their section 172, Companies Act 2006 duty to promote the success if the company. Compliance with this requirement is proving challenging for many board directors. As “how” is much more difficult to explain than “if”. A simple… Read more »
