Entrepreneurial businesses with entrepreneurial employees may be interested in the new ‘shares for rights’ opportunity which becomes law in September this year. The early stages of the proposal were dogged by political and policy controversy. What was likely intended as a simple helpful measure now contains so many potential traps for the unwary as to risk affecting take-up by those businesses to whom it may have been most valuable.
A new employment status the employee shareholder will be formally introduced from 1 September 2013 by amendments to the Employment Rights Act 1996. Corporate employers of any size and in any industry will be able to offer to their new and existing employees shares in the employer or its parent...
