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One of our clients has transferred his and his wife’s share of property to his mother over the span of 3 years now. He and his wife each transferred 10%, 8% and 4% in year 1, 2 and ...Read more
One of our clients has transferred his and his wife’s share of property to his mother over the span of 3 years now.
He and his wife each transferred 10%, 8% and 4% in year 1, 2 and 3 respectively.
From CGT point of view each transfer was just below the annual exemption threshold each year.
From SDLT point of view each transfer was below the minimum consideration of £40K each year.
My question is will it attract any anti avoidance rule for both CGT and SDLT?
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In this year, he carried out some of his consultancy through XYZ Ltd. He carried out remaining of his consultancy through ABC Ltd. ABC Ltd is a company which he uses only for his consultancy business. For coming year, he ...Read more
In this year, he carried out some of his consultancy through XYZ Ltd. He carried out remaining of his consultancy through ABC Ltd. ABC Ltd is a company which he uses only for his consultancy business. For coming year, he plans to close ABC Ltd and do all the consultancy business through XYZ Ltd. He will also register for VAT (as turnover reaches threshold). Please suggest any disadvantage or advantage of his plan.
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