Law change helps Loanhead firm’s future

The future of a Loanhead company has been secured using a change in tax laws.

Thought to be the first arrangement of its kind in Scotland, Mike Stoane Lighting has introduced an Employee Ownership Trust.

Gilson Gray LLP advised the Bilston Glen Industrial Estate firm on the new trust system which encourages businesses to become employee owned through enhanced tax benefits.

The move benefits 45 members of staff at the business. The company has an employee on the board of directors, following the decision by founder Mike Stoane, to step away from the day-to-day running of the business.

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