Is market value applied on transferring property to parent?
Prior to the sale of a business, our client has formed a holding company to transfer a property out of the trading company to retain this. He will then sell the trading company and retain the cash and the property within the holding company.
The accountants acting for the purchaser has suggested that the property must be transferred for company law purposes at market value. Does any have any experiences of this. I am aware of the tax and stamp duty implications.
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