Intro; FOREWORD; Acknowledgements; Contents; Introduction: how to use this book; 1 What is employee ownership and why introduce it?; 1.1 What is employee ownership?; (a) An employee share scheme?; (i) Which employees participate in their company's employee share scheme?; (b) Employee ownership; 1.2 Why employee ownership?; 1.3 Employee ownership and an employee share scheme?; 2 Creating employee ownership; 2.1 What does an employee-owned company look like?; 2.2 An employee trust; 2.3 The main types of employee trust; (a) Employee benefit trust; (b) Employee ownership trust

(C) The tax reliefs(i) Capital gains tax relief on a sale to an employee ownership trust; (ii) Paying income tax free bonuses; 2.4 When can a company become employee-owned?; (a) Employee ownership in a new business; (b) Employee ownership in an established business; 2.5 Creating an employee trust; (a) Trust deed; (b) Acquiring shares; (i) New company; (ii) Change of ownership of an existing company; (c) Trust as shareholder; 2.6 Individual share ownership; 3 Employee trusts: how they work; 3.1 What this chapter covers; 3.2 What property does the employee trust hold?; 3.3 Who runs the trust?

3.4 What is the trust's role (or purpose)?(a) Financial benefits; (i) Bonus or profit share; (ii) Capital growth; (b) Non-financial benefits; 3.5 Legal duties of trustees; (a) The general legal duties of the trustees of an employee trust; (b) What are the duties of trustees in practice?; (c) Do the trustees manage the Company?; 3.6 The role of the company's directors; 4 Setting up an employee trust: key steps and decisions; 4.1 What stage are you at?; 4.2 What kind of employee trust?; 4.3 Will there be other shareholders?; (a) Hybrid employee ownership?

(B) Separate share ownership arrangements for members of the company's senior leadership team?4.4 What is the current legal structure of the business?; 4.5 Who will the trustees be?; (a) Individual trustees or a trustee company?; (b) Where will the trust be resident?; (c) Who should be the trustees?; 4.6 Who will be the beneficiaries?; (a) Employee benefit trust; (b) Employee ownership trust; (i) If the trust is an employee ownership trust, the rules are tighter:; 4.7 How will the trustees make decisions?; (a) How many trustees need to be present for a trustee meeting to go ahead?

(B) What percentage of trustees need to support a particular decision for it to be effective?5 Individual employee share ownership; 5.1 When might a company be individually employee-owned?; 5.2 How an employee can personally acquire shares in their company; (a) Buying shares; (b) Being given shares; (c) Share options; (i) What should be the terms of a share option?; 5.3 How to mitigate the financial cost for employees; (a) Buying shares; (i) Income tax relief on the purchase price; (ii) Paying for the shares later; (iii) Growth shares; (b) Free shares; (i) Free share awards under a SIP