Property Business/Trust - Long term investment

[Paul-pmb]

Hello - I am thinking of starting an Investment company (Limited) with my four children (now grown-up). I would like to invest my two properties (mortage still on one property) into this business so that the properties would be owned by myself and my four children. They could then buy additional properties as part of the business. My goal is two pass my properties onto my children without concern of Inhertance tax because my properties would be owned by the business and not by me, and my share in the business would automatically pass to my children. I would be interested in taking some money out of the business (as dividends) from rental income, but most income would be re-invested. From a tax perspective, is this a good idea, AND what are the pitfalls???

Thanks

Paul