My family and I have a limit company for the purpose of family wealth management. The shareholders are all family members and the company mostly holds investment property.
I have some Bitcoin which I aquired many years ago at a cost of next to nothing. I'd like to transfer Bitcoin to the company so that the company now owns it (thus avoid inheritance tax hopefully in the very distant future).
I will not be receiving anything in return for the Bitcoin; it will just become company owned and benefit all the shareholders equally.
So my questions are:
1) What value will I give to the Bitcoin on the company balance sheet? Should be it be fair market value at the time I transferred it to the company? Or my initial base cost?
2) If the book value is the current fair market value then would this generate a CGT bill for me? (Same as if I had sold them for cash?)
3) What happens if the company sells the Bitcoin at some point in the future; how is the CGT for the company calculated at that time?
4) Is the company under any obligation to write-up or write-down the value of the Bitcoin on the balance sheet to reflect changes in the market value?