Gift of shares from parent to son - docs needed

What documents are needed to transfer (as a gift) shares from parent to son in family business

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Parent wants to pass all his shares on to his son free of charge (approx value £60,000). So nil consideration.

Is anything else needed apart from the Share Transfer Form and new share certificate/

It has been suggested a Deed of Gift as well but is that necessary?

Also which bit should be signed on the back of the share transfer? Certificate 1 or Certificate 2?

Many thanks

Replies (3)

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By andyjdicker
02nd Feb 2018 11:30

Have they considered CGT implications? Even if a gift there will be some.

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By carnmores
02nd Feb 2018 15:59

exactly all disposals are deemed to be at market value for CGT purposes

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By Openhouse
04th Feb 2018 13:04

Yes they are aware of the CGT position. However my understanding is that they would claim gift holdover relief so any gain would be deferred until if/when the son disposed of the shares.

Would a deed of gift be necessary and which certificate (1 or 2) on the share transfer should be signed?

Thanks

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