http://ilyaspatel.co.uk/uncategorized/transferring-shares-to-family-members-a-comprehensive-guide/ Accountants in Preston Fri, 01 Nov 2024 12:10:40 +0000 hourly 1 https://wordpress.org/?v=6.9.1 http://ilyaspatel.co.uk/uncategorized/transferring-shares-to-family-members-a-comprehensive-guide/#comment-142 Fri, 01 Nov 2024 12:10:40 +0000 https://ilyaspatel.co.uk/?p=6451#comment-142 Hi,
I have a query. – re IHT.
If I give away 31% of my Holiday let company to each of my 3 sons, and my wife and I retain the remaining 7% of the shares, can we continue to enjoy using the assets of the company ( ie. holiday weeks using the company’s holiday let properties) without it being classed as a ‘Gift with reservation’ as we still retain 7 % of the company? This assumes we give the shares now, and we both live for the PET period 7 yrs. Would a holiday usage invalidate the PET status?
Thanks

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