EBT meaning in Business ?

Answer:

What is Employee Benefit Trust mean?

An employee trust is a trust for the benefit of employees.

The employees that an employee trust benefits are usually defined by reference to employment by a particular company (or group of companies). In addition to employees, the beneficiaries may, under the terms of the trust, include some or all of former employees (of the relevant company or group) and individuals defined by reference to their marriage to, civil partnership with or dependence on such an employee (or former employee). Charities may also be included in the class of beneficiaries.

An employee trust is typically established by the relevant employing company (or a company in the employing group) entering into a trust deed (or other trust instrument) which sets out the terms of the trust, including who is to act as its trustee. An employee trust could also be established by an individual, for example a shareholder in the relevant company, including by their Will.

The choice of who is the trustee of the trust and the type of property subject to the trust will vary depending on the purpose of the employee trust.

Many employee trusts are discretionary trusts, where the trustee has discretion to select which beneficiaries benefit, when and how. It is possible that beneficiaries have fixed or absolute interests, for example, where shares awarded to employees under an employee share ownership plan remain held in an employee trust.

Government policy and tax rules in the United Kingdom, the United States and elsewhere encourage the use of employee trusts to support employee share ownership or employee ownership. Although, Government policy and tax rules may also counteract certain uses of employee trusts, for example, when they are used avoid the payment of tax on remuneration.

reference

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