Amending the perpetuities rule and simplifying employee ownership
Download the full outcome
Detail of outcome
Summary of the evidence received with regard to:
- the recommendation in the Nuttall review of employee ownership (2012), that employee benefit trusts should be exempt from the perpetuity rule
- other complexities of employee ownership
There is insufficient evidence at this point to take the Nuttall recommendation on the perpetuity rule any further, but the issue may be reconsidered when such evidence is forthcoming. There was little evidence received with regard to any other complexities of employee ownership.
Original consultation
Consultation description
This call for evidence seeks views on what government can do to further simplify the use of employee ownership.
It also seeks evidence from UK stakeholders on recommendation in the Nuttall Review of Employee Ownership. This recommended that employee benefit trusts should be able to last forever, and should not be subject to the rule against perpetuities. The rule against perpetuities prevents property from being tied up indefinitely.
Documents
Last updated 30 July 2014 + show all updates
-
BIS response added.
-
Government reponse added.
-
First published.