Hayes Davidson has launched an employee ownership trust.
The architectural visualisation studio organisation is now 100% owned by its employees (pictured) after it launched the trust at the end of January 2015.
Employees in an employee-ownership trust organisation can receive income-tax-free bonuses of up to £3,600 per tax year.
Hayes Davidson closely follows the move by architecture practice Stride Treglown to also adopt and employee ownership model.
The organisation was advised by Graeme Nuttall, a partner at law firm Fieldfisher, and author of the Nuttall review on employee ownership, which was published in July 2012.
Alan Davidson, founder of Hayes Davidson, said: “I am delighted for everyone at Hayes Davidson. This change reinforces the truly collaborative nature of a professional architectural visualisation studio.
“Employee ownership reflects many of the important values already held at Hayes Davidson; of partnership, transparency and mutual support.
“A plan over a year in the making, we are indebted to friends and advisors in the employee ownership and architecture sectors who have helped us make this transition.”
Nuttall added: “Employee ownership allows Hayes Davidson’s employees to focus on using their technical skills and artistry for the benefit of the business, its clients and themselves.
“The employee-ownership trust provides a long-term, secure way of owning the business: one that underpins genuine employee engagement.”