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Where Taxpayers and Advisers Meet

IHT & membership of company limited by guarantee

eggsnbacon
Posts:12
Joined:Sat Apr 02, 2016 6:27 pm
IHT & membership of company limited by guarantee

Postby eggsnbacon » Thu Sep 16, 2021 6:06 pm

If a deceased person was a member of a company limited by guarantee, does that have any value for IHT purposes?

AGoodman
Posts:1286
Joined:Fri May 16, 2014 3:47 pm

Re: IHT & membership of company limited by guarantee

Postby AGoodman » Fri Sep 17, 2021 2:34 pm

It depends entirely on the constitution of the CLG and whether the membership has any value.

If the membership didn't generate any income and wasn't transferable (e.g. a charitable CLG) then no, there wouldn't be any value. If membership could be sold, then possibly yes.

In theory there is nothing to prevent a CLG being used for investment or a trade so you need to check the articles and activities of the company.


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