Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Ownership definition

What does Ownership mean? In legal practice, ownership describes who has the bundle of rights over property: to possess, use, enjoy income, exclude others, transfer, or charge it, subject to law and third‑party rights (such as easements/servitudes, leases and security interests). It is a descriptive expression used across contexts (land, goods, shares, intellectual property), rather than a single statutory definition, though related concepts are defined in legislation and case law (for example, beneficial ownership in anti‑money laundering/PSC regimes and land registration rules). Across England & Wales, Northern Ireland and Ireland, lawyers commonly distinguish legal ownership (title shown on a register, deed or share register) from...

Employee Ownership Trusts: UK legal and tax framework, conditions, reliefs (CGT/bonuses/IHT), 2024–2026 changes, compliance and practical structuring considerations

Published by a LexisNexis Share Incentives expert

Practice notes

What is an employee Ownership trust?

An employee ownership trust (EOT) is a specific kind of Employee Benefit Trust (EBT) that must meet statutory criteria. The concept was introduced by the Finance Act 2014 (FA 2014), together with tax advantages for companies owned by an EOT and for individuals who dispose of Shares to an EOT. If the statutory criteria are not met in relation to the EOT, these reliefs will not be available. The reliefs were enacted by FA 2014, Sch 37, following a Budget 2013 announcement and a subsequent consultation. For guidance on pitfalls and common errors when creating or running an EOT, see Practice Note: Pitfalls of setting up and operating an employee-ownership trust. For general information on EBTs, see Practice Note: What is an employee benefit trust?

What tax reliefs can an EOT provide?

Three tax reliefs were legislated, in line with a policy of encouraging the development of employee-owned companies as an alternative to a trade sale or other loss of independence for a privately owned company, or as a vehicle for...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Stephen Woodhouse

After studying law at Leicester University and a career in the City of London spanning 30 years Stephen joined Pett Franklin as the third partner in the team on 1st December 2013.While practising in the City, Stephen trained at Slaughter and May working in their tax department for seven years after qualifying across a range of tax matters but particularly on employee share schemes. From there he joined Norton Rose to assist with building their employee share scheme practice. He joined Touche Ross (later, Deloitte LLP) in 1994 becoming a partner in 1999 until leaving Deloitte to join us on 1st December 2013.Throughout his career, Stephen has advised on tax with particular emphasis on employee share schemes and related remuneration issues. He has advised on both domestic and international issues and become an acknowledged expert on employee benefit trusts in their many...

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...