If a 80% majority shareholder wants to give the 20% shareholder some shares for nil consideration, what are the implications?
As shareholders are they deemed to be connected, and therefore a gift relief claim is required?
If such a claim removes ay CGT issues, is there a BIK issue for the 20% shareholder?
Please note the 20% shareholder previously bought his shares for £100k.
Are there any other options?
The two parties are not related.
On a separate note, are Step Son &step Dad connected for CGT purposes (this Q is not connected to the above Q)