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What would HMRC say to this

Son gifts unquoted shares to father (gain held over) and 1 month later he sells all the shares paying only 10% tax (ER), whereas the son would have paid 28%.  The proceeds will remain with the father.

Clearly the transaction was carried out to minimise the tax liability but I wonder what HMRC would say and what would the worst case scenario be?
 
 
Many thanks

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how does father pay only 10%...

surely ER not available as shares held for less than 1 year?

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it is

as the father already held over 5% and qualified. Therefore, new shares qulaify straight away.

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Cash with father

The key here is that the sale proceeds remain with the father. If they came back to the son, there would be a serious risk of challenge. In absence of that I think HMRC would struggle to challenge it successfully.

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