HOLDOVER RELIEF ON SHARE TRANSFER TO A RELATIVE

Can Client claim holdover relief on transfer of shares in his personal company to his son

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A client wishes to transfer some of  his 51%  shareholding ( the other 49% is held by his wife ) in his trading company to his son . The shares of the company  are valued at £500,000 and the market value of the shares to be transferred is £85,000. Can father claim holdover relief.

Also can father sells shares at £11800 only so that he can make use of his AEA and the balance be heldover?

Any advice would be  much appreciated.

 

 

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By The Dullard
18th Sep 2021 15:01

Yes, and yes. The annual exempt amount is £12,300.

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By Tax Dragon
18th Sep 2021 20:55

Not unilaterally, obviously - the election is joint.

But... what prompts the question? What's the doubt?

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