Group question

Can you help in seeing a way round this

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My daughter is buying a new business. At present she is a director of a company which her husband uses for consulting work. The money for the purchase is sitting in that company.

Is it possible to set up a ltd company within the first as a group company and transfer the money to it without it being deemed a benifit? They are 2 totally different trades.

Replies (5)

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By mrme89
28th Jul 2017 09:58

There is a much simpler transaction that can take place. You should consult your accountant for the advice.

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Replying to mrme89:
The Wages Room
By The Wages Room
28th Jul 2017 10:49

Her advice was to just set up a trading name within the company. I see problems with this if the business is sold in the future.

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Replying to The Wages Room:
Stepurhan
By stepurhan
28th Jul 2017 11:31

The Wages Room wrote:

Her advice was to just set up a trading name within the company. I see problems with this if the business is sold in the future.

So naturally you mentioned this possibility so they could advise you on it? You may well find they have suggestions on that front too.

I can't help thinking you are engaged in premature enumeration of livestock though. If she is only just buying a new business now, why are you already looking at selling it? I'm all for thinking ahead but there are limits.

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Red Leader
By Red Leader
28th Jul 2017 11:22

What does your daughter's accountant say about your suggestion?

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By Ruddles
28th Jul 2017 11:37

Group question ...

"Is it possible to set up a ltd company within the first as a group company and transfer the money to it without it being deemed a benifit?"

Yes (assuming that by "within" you actually mean "under")

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