Autumn Budget 2025 — Employee Ownership Trust capital gains tax changes explained

We explore the Chancellor’s decision to change the capital gains tax (CGT) relief available for disposals to Employee Ownership Trusts (EOTs).
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Partner
0161 836 8938
07894 588 330
stephen.hadlow@brabners.com
He's actively involved in structuring disposals to Employee Ownership Trusts and has helped realise the succession objectives of a number of owners in the transition of their businesses to employee ownership.
An experienced corporate lawyer, Stephen advises businesses, their shareholders and management teams, as well as funders and high-net-worth individuals across a wide range of strategic transactions including fundraisings, corporate acquisitions and disposals and reorganisations.
He works with a range of entrepreneurial clients and supports several rapid growth technology businesses, helping them to achieve their growth ambitions and ultimate exit strategy.
Stephen is closely affiliated with the Employee Ownership Association and often gives presentations and seminars on how to structure employee buy-outs.
Stephen joined us in 2019 and is based in our Manchester office.
“Stephen Hadlow is my main contact at Brabners and I would happily recommend him to anyone. He was easy to deal with, responsive and made the process straightforward.”
Client feedback, The Legal 500 2026

We explore the Chancellor’s decision to change the capital gains tax (CGT) relief available for disposals to Employee Ownership Trusts (EOTs).
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We explore why a law firm might favour an employee ownership model and outline the common themes behind their choice.
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We explore employee ownership as a route to exit and detail the associated benefits and challenges.
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