I have the following Scenario
Trading Partnership in existence with Dad owning 70% brother 20% daughter 10%
Partnership is making healthy profits but these are not required by the partners with circa £1.7m within their capital accounts (drawings are minimal)
As a result I am looking into the possibility of having three corporate partners i.e a company for each shareholder. We can then pay the profits to the companies paying CT tax at 21%. The reason that the shareholders will have a company each is to enable them to draw as they please via dividends
HAs anyone carried out a similar exercise?Any issues to note?