I would value your comments. In the fullness of time I will wish to lessen my work burden and gradually withdraw from my limited company business- my wife and I are the shareholders. My employee has been with me for 20 years and it is hoped and planned that he will take over the company.
How best to achieve this? Am I right that a simple transfer of some of my shares over the course of a few years, as a gift, will trigger an income tax charge for my employee?
Would a share scheme achieve the result of my employee ultimately gaining control of the company? I wondered about a SIP?
Thanks for taking time to look at this