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Today Fieldfisher is celebrating the second anniversary of the Nuttall Review of Employee Ownership (EO) as the main London EO Day event at its new office - Riverbank House in EC4. The Nuttall Review was launched at the Deputy Prime Minister's Employee Ownership Summit on 4 July 2012 and was authored by Fieldfisher partner Graeme Nuttall OBE.
Guests comprise representatives from the key stakeholders in the success of the Nuttall Review such as Government departments, including the Department for Business, Innovations & Skills, HM Revenue & Customs, HM Treasury and the Cabinet Office, professional bodies such as the ICAEW, the Association of Chartered Certified Accountants and the Chartered Institution of Taxation and the Press.
Our special guest is The Lord Newby OBE, Government spokesperson.
Key speakers at the event include Jeremy Estop from employee-owned MJP Architects and James Sharp from Ten Insurance Services, a business converting to employee ownership.
Employee ownership is being driven across the UK at local levels by successful employee-owned companies championing this business model and encouraging others, particularly on EO Day, to do the same. The employee ownership business model has been adopted by public service mutuals including City Health Care Partnership (Hull) and CSH Surrey as well as private companies such as Donald Insall Associates, Marine Engineering Partnership and Wilkin & Sons. EO works particularly well as a business succession solution.
Graeme Nuttall OBE, employee ownership specialist and partner at law firm Fieldfisher, said:
"Since the publication of the Nuttall Review in 2012 there has been tremendous progress in raising awareness of the employee ownership business model, combined with important regulatory changes and an increase in the resources to implement employee ownership. The new tax exemptions for employee-ownership trusts in the Finance Act 2014 will, in particular, boost EO as a business succession solution. I have thoroughly enjoyed working with all the key stakeholders and look forward to thanking them today for their contributions.
"Employee ownership is a versatile business model that works successfully across all sizes of company and in a wide range of businesses. The Nuttall Review has allowed me to work with a great number of people within the Government, sector bodies, professional associations, Employee Ownership Association members, colleagues and the Press, who have all contributed to the success of employee ownership in the UK. This event is my way of saying thank you to all who have helped with the Nuttall Review and to promote UK employee ownership."