Claritas Tax have advised the owners of Lyneal Group Limited, trading as MyStaffShop.com and MyHealthExtras.co.uk, on the sale to an Employee Ownership Trust (‘EOT’).
Martin Jones, Head of Finance at MyStaffShop, said “Claritas Tax provided knowledge and insight to the finance team which ensured tax compliance during the formation of our Employee Ownership Trust, as well as confirming with HMR&C the tax treatment of contributions. The employees of Lyneal Group Ltd are extremely grateful to Claritas Tax for the advice provided and look forward to a profitable future, built on strong foundations.”
Matt Hodgson, Partner at Claritas Tax commented “It has been a genuine pleasure working with Jon and the senior management team on the Group’s transition to employee ownership. Employee Ownership Trusts are a perfect way to pass on the ownership of a successful business to its employees and give them a true sense of ownership of its future, which I know is the case here. Congratulations to all involved.”
