Partnership and the possible introduction of corporate partners

Dear All

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?

 

 

Comments
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you could convert to an LLP

carnmores |
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.

blok |
blok's picture

Thanks

skay98 |

Capital Idea

The Minion |
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