So with the agreed mileage allowances for business travel is this the case too? 25p a mile does not fully cover the costs but does cover most simply paying this to the employee based on mileage submissions and checks will also be subject to NI and Tax?
I am a 20% shareholder and the major shareholder wishes to purchase my shares and for me to leave the business.
He is offering £500k over a period purchase my shares, dependant on available cash.
Providing the last purchase say 5 years down the line is at least 5% do I need to remain an employee in order to receive entrepreneurs relief?
There is an implied minority discount which is quite large as well.
I appreciate I have employment protection to a degree but should I be able to defend my full pay and conditions during the period, or, if I am removed through any means including an unfair dismissal is thus crucial to the ER?