The Chancellor of the Exchequer, George Osborne, has announced plans to introduce a new type of employment contract – an ‘owner-employee’ employment contract. ‘Owner-employees’ will receive between £2,000 and £50,000 worth of shares (which will be exempt from capital gains tax) in exchange for giving up certain rights, including redundancy rights, the right to claim unfair dismissal and the right to request flexible working or time off for training. Owner-employees will also be required to give 16 weeks’ notice of their return from maternity leave, rather than the current 8 weeks.Continue Reading Plans for new ‘owner-employee’ employment contracts announced