Moore member firm Kingston Smith has reviewed the UK government's Autumn Budget, which introduced key changes to Employee Ownership Trusts (EOTs) on 30 October 2024. The updates aim to ensure EOTs benefit employees and prevent tax avoidance. Key changes include restrictions on former owners retaining control, new trustee residency requirements, an extended period for CGT relief, and clearer rules on share valuations and distributions. Additionally, a tax-free bonus of up to £3,600 for employees of EOT-owned companies was introduced, with more inclusive participation rules. These reforms aim to strengthen employee ownership in the UK.