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A&B Shares bought with Director & Adult Children

Can Co be Set up with Shares also owned by Directors Adult Children

What are the implications of someone setting up a single Director Company, and at the point of setting up, arrange for A & B Shares to be set up,  so that the Directors 3 Adult Children each own B Shares at the outset, which attract Dividends, whereby wording is such in the articles that B shares can only be sold unless all A shareholders agree.

I have had a call from a potential client, who wants to set up a company in this way, and not take any profits out themselves (they already have other income and won't need to draw income/dividends from the company).  Instead wants their children to be able to draw the tax free amount each year.  Is there anything that should be considered upon set up?

Thanks in advance.


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