The UK Chancellor announced at the Conservative Party conference this week an outline plan to enable a new category of “employee owners” to receive shares in exchange for zero capital gains tax and a significant reduction in employment rights (the press release is here). Whether this will be a sufficiently attractive carrot to justify diversion from the well-trodden path for emerging companies of granting simple and highly flexible Enterprise Management Incentive (“EMI”) options and/or to entice employees away from their statutory employment protections remains to be seen, as does much of the fine detail of the proposal. READ MORE →