Gift of shares to children over 18
A 100% shareholder/director wants to gift his 2 children 15% of the business each by issuing B shares enabling occasional dividends, what is the tax implication?
I assume since the 2 children are connected parties cgt will be chargeable in the market value of the shares if transferred out of the 100%, correct?
What if new B shares were created on top of the ordinary shares, who would be responsible for paying the tax for shares issued under market value?
Finally, with B shares, where should the dividend / voting rights be laid down to satisfy hmrc if challenged?
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