The RAG Podcast - Recruitment Agency Growth Podcast Season 9 | Ep 11 Jen Gaster: How she sold her business to her team (and kept the tax bill at zero)
Jen Gaster: How she sold her business to her team (and kept the tax bill at zero)
Jen Gaster launched HR Heads in 2008 at the height of the financial crisis with a six-month-old baby and zero income security.
17 years later, she runs three brands, 22 people, and just completed an Employee Ownership Trust (EOT) transaction.
Tax-free exit, 5-year payout. The employees own the business when the mortgage is paid off.
One week after they completed the deal, Rachel Reeves changed the rules.
EOT payments are now taxable for anyone doing it after the budget.
Jen got in just in time.
But here's what makes this story different.
She built the business with her husband Rupert. Same office but separate brands and working processes (They've literally only attended one client meeting together in their entire lives!)
This week on The RAG Podcast, Jen tells the full story.
We cover:
- Starting a business during the 2008 financial crash with a baby
- Working with your spouse without destroying your marriage
- Why she admits "I don't think I'm a brilliant man manager"
- The EOT transaction and how they structured a tax-free exit
- How Rachel Reeves' budget changed the rules one week after they completed
- Why legacy mattered more than a trade sale
This isn't about building an empire.
It's about a founder who wanted to reward the people who built the business with her and managed to do it without a tax bill.
If you've ever wondered whether there's another way to exit, this episode has the blueprint.
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