French company owns 100% shares in a small UK property investment co. Here's the issue:
FrenchCo is owned 100% by Mr A, also a resident of France.
FrenchCo owns 100% shares in small UK property rental/investment company (my client).
Mr A wants to transfer UK company to his son.
I will be advising client that specialist advice is required. It got me thinking though!
I would imagine that there are lots of pitfalls / considerations.
Broadly, could the the FrenchCo transfer the UkCo back to Mr A as a market value disposal / dividend in specie? Then gift the shares to his Son?
Or would a purchase of own shares by the UK Sub, then Mr A buys shares?
Just food for thought (for me) as I've never come up against this before.