elderly gentleman running a company renting our flats and office space. currently has majority shareholding and wishing to reduce this in view of IHT.
there is no way around CGT if he gifts or sells them to his sons but how about issuing new shares so that his majority is now diluted?
would that still be assimilated to a sale?
many thanks in advance
Replies (2)
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see case of Kirk in attachment
http://www.taxinsider.co.uk/179-Giving_it_All_Away_PETs_GWROBs_and_the_POAT.html
See case of Kirk in attachment for simple overview of the pitfalls