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gift of shares to family members

A owns company a

Relative (not spose) B owns company b

But what happens if A transfers some shares  in company a to B and B transfers shares in company b to A.

Both just claim entrepeneurs relief on the market value of the disposals? 

Is stamp duty payable? I have seen the share transfer forms and they record £Nil as the sale proceeds.

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Are the gifts reciprocal, or independent?

The Stamp duty value of nil indicates these were two independent gifts. If so then holdover relief under TCGA 1992 s 165 may be more appropriate, as there is no cash from which to pay even 10% CGT. Also holdover relief avoids the need for difficult share valuations.

 

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