Ilyas Patel Accountants in Preston
When gifting private company shares to your family members, there are several intricacies to consider.
Today, we will discuss the tax implications that come along with gifting company shares.
Explore the reliefs that can potentially apply to navigate this process effectively and save you money.
To make a gift of shares to a family member in your own company:
There are a few exemptions to the general structure of making a gift of shares to a family member, and we will explore them below:
When gifting shares to family members, there can be CGT complexities to consider.
Similarly, there can be intricacies of IHT to bear in mind when gifting shares to your family members.
When gifting shares to family members, it’s important to consider Stamp Duty Land Tax implications.
While this tax mainly applies to property, it could apply to shares linked with property ownership.
Shares unrelated to property are generally exempt but seeking professional advice for shares connected to property is advisable.
There are some extremely specific scenarios which SDLT can come into play, but contacting Tax Expert can ensure you aren’t caught out by any of these.
Summing up, when gifting shares of a private company to family, consider the tax nuances involved.
Delve into the tax implications and potential savings in this process.
For more guidance and assistance in optimising your shares gifting strategy, reach out to Tax Expert.
Allow us to navigate these complexities and opportunities for you.
Contact us today at 01772 788200 to find out more about how we can help, or WhatsApp us out-of-hours at 07787 010190.
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Kind regards,
Ilyas Patel