EOT

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5 Terms

1
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Benefits?

Transfer business to employees with no tax liability

Cutlural benefits

Deferred payment possible

EOT can borrow to fund

2
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Pitfall of EOT?

If future profits dip, can be problem to service

3
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CGT relief?

CGT exempt where controlling interest transferred

4
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IT exemption?

£3,600 per tax year on bonuses to all employeesC

5
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Conditions to get IT exemption?

Can’t form part of employees normal salary

Can be single bonus or made up of several smaller amounts

NIC still payable