The Government/Employee Owner Contracts

25th March 2013
The Government/Employee Owner Contracts image

The Government is to press on with Employee-Owner

In October 2012 the Government launched a consultation on its proposal for a new type of contract of employment of “employee-owner”, under which employees would be given shares in exchange for waiving certain employment rights.

Under these proposals a new tier of employment status would be created namely employee-owners who would receive shares of between £2,000 and £50,000 (exempt from Capital Gains Tax) in return for giving up specified employment rights (such as ordinary unfair dismissal). 

In December the Government published its response for the consultation, and despite mixed views from those taking part in the consultation, it wishes to proceed albeit with certain modifications.  For example the employee-owner contract will be renamed “employee-shareholder” contract and the upper limit of shares (£50,000) will be removed (but will remain for Capital Gains Tax exemption).  Amendments will be made to the Growth and Infrastructure Bill accordingly.  The Government is also set to issue guidance on these laws and the tax consequences of “employee-shareholder” contracts.  In particular the Government acknowledges that there is already uncertainty amongst employers as to the differences between the two existing types of employee status of workers and employees, and that adding a new status of employee-shareholder with different rights again could add further to the confusion. 

Daven Naghen, head of our Employment Team, commented as follows:-

“I don’t know yet whether the new scheme will be workable in practice, more information and detail is going to be required.  Watch this space!”

If you want to keep up to date with developments on employee-shareholder contracts then stay subscribed to our Employment Newsletter

The Will Writing Company Limited image

The Will Writing Company Limited

It has been reported that The Will Writing Company Limited, whose registered office is at Ergo House, Mere Way, Ruddington Fields Business Park, Nottingham, have ceased to practise.

If you made Wills using this company then it is probably worthwhile making contact with them in order to retrieve your Wills. Once you have your Wills you may wish to make an appointment with one of the lawyers in our Wills, Lasting Power of Attorney and Probate Team in order to review your Will to ensure it still accords with your wishes. We also offer a Will storage facility which is free of charge.

To review your Will please contact one of our lawyers in the Wills, Lasting Powers of Attorney and Probate Department:-

Jane Mawer-
Jamie Dobbs-
Faye Blair-

Or telephone the office on 01775 722261 and ask to speak with one of the team.

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Gemma Mayer LLB

"I would highly recommend Maples Solicitors, especially Gemma Mayer, for any conveyancing work. The level of support and professionalism was excellent at all times. I also felt if I needed to ask or clarify anything that it was not an issue. Buying and selling a house is stressful enough, but Gemma helped me through it step by step."

Anita Toal LLB BA

"I think you are brilliant. You can use my comments above. You are efficient, friendly and quite clearly very good at what you do. Mainly you don’t leave people hanging around too long for." "So easy to talk to her and she understood what I wanted. She put me at ease and I cant thank her enough"

Daven Naghen LLB

"Daven provided an excellent service, from attending the first interview with me to the final court appearance. He filled me full of confidence that he would defend me to which he did and come out with an excellent outcome in view of my position that I had put myself in."

Faye Blair LLB

Faye was excellent, sensitive and acted very well to the time constraints we faced. Great service and dealt with compassion at such sad times made the process less painful very professional.

Jamie Dobbs ACILEx

Over the last forty years I have cause to deal with many law firms both in a personal and professional capacity, including some ‘top’ London Companies. In all of those dealings I have never found anyone as proactive and so willing to offer help and advice as Jamie Dobbs. During the last two years Jamie guided my parents through the completion of Lasting Powers of Attorney. Helped myself with the use of the LPA and recently dealing with Probate and Estate Administration following their death.

Mike Pepper MA

This is the second time we have used Mike Pepper at Maples Solicitors in the sale of our house. We cannot praise Mike enough for the highly efficient and professional service that he has provided us with. He is by far the best solicitor we have ever worked with, and the service that he has provided us with has gone far and beyond anything we have ever experienced. We have found the whole process to be a very relaxing experience.

Claire Smith FCILEx

Claire Smith has been amazing in every way. I highly recommend her and I am so grateful for all her help. She’s professional on all levels, reliable, extremely organised and I will be recommending her to everyone. I’m very lucky to have had her representing me and I can’t thank her enough. She is an asset to Maples. Thanks so much Claire!

Anita Zaborniak

We found it a pleasure to deal with Anita Zaborniak, she was most helpful and informative and kept us up to date with the progress of the purchase of our new home. If we were to move again we wouldn’t hesitate to use Maples again.