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Where Taxpayers and Advisers Meet
Personal Cash into a Limited Company IHT
If I pay personal cash into a Limited Company in order to zero my Director Loan Account and then do a transfer of my entire Shareholding (40%) to my Niece (whist I am alive) does this attract Inheritance Taxation?
Re: Personal Cash into a Limited Company IHT
1. If you are just repaying your debt to the company, then no.
2. A gift of a 40% shareholding would be a PET so only taxable if you fail to survive by 7 years. If that happened, business property relief might be available, but that depends on the company meeting a lot of conditions (first and foremost being a trading company) and her still holding the shares at the time of your death.
2. A gift of a 40% shareholding would be a PET so only taxable if you fail to survive by 7 years. If that happened, business property relief might be available, but that depends on the company meeting a lot of conditions (first and foremost being a trading company) and her still holding the shares at the time of your death.
Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”