Can an EOT-owned company also operate an employee share plan?

Yes. EOT-owned companies can operate all of the HMRC tax-advantaged schemes — EMI, CSOP and SIP.  This is the case even if the company is under the control of a corporate trustee.  (Usually, companies cannot operate these plans if they are under the control of another company.)

Each plan still has to meet its own qualifying criteria, and the design needs care to ensure the EOT keeps its controlling interest. Specialist advice at the design stage is essential.