Please can any one advise?
I have 2 Ltd companies Both employed by the same property investor.
company 1 (Not Vat Registered)
Primarily lettings and Marketing
company 2 (Not Vat Registered)
Deals with the maintenance of the properties and subcontractors.
Company no 3 (vat Registered)
Supplies material, kitchens, beds, bathrooms and furniture.
I and my Mrs are directors of both companies.
Companies 1 & 2 will turn over circa £60-£70,000
Company 3 will turn over Circa£150,000.
My intention is to take 0 money out of companies 2 & 3 for a couple of years and leaving the money build up, when my Son turns 14 make him a director and gift him the shares.
I have not slept for a week worrying about this opportunity.
Is this legal?
Thank you in advance
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