Reeves raises taxes on dividends and EOT deals

Chancellor Rachel Reeves hit construction business owners in the pocket today with increases in dividend tax rates and a cut in tax benefits during Employee Ownership Trust (EOT) deals.
EOTs have become popular in construction with a string of contractors sold to their staff.
Currently business owners benefit from 100% Capital Gains Tax relief when they sell their firms via an EOT.Reeves said that relief will now be reduced to 50% from today in a move designed to save £3.5bn over the next