I have a client twho owns 50% of shares in a private trading company. He is already a higher rate personal tax payer and now wants to transfer half of his shares to his partner to mitigate his tax liability. They are not married and the partner is employed in the Company.
I am looking at applying CGT hold-over relief reference the disposal by way of gift, of unlisted shares in a personal trading Company and also to apply to defer the need for a valuation to be carried out under the statement of practice SP8/92.
I cannot see any problems with this but I just wondered whether there were any problems that I had not foreseen in connection with the fact that they are not married or in connection with the fact that the partner is an employee in the Company.