What would HMRC say to this | AccountingWEB

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

There are 3 comments. Login or register to view them.

how does father pay only 10%...

justsotax |

it is

Markhamfc1 |

Cash with father

gbuckell |
gbuckell's picture