- My parents wants to gift my children and my brothers children (all minors) either cash or shares in a new company which I have incorporated.
- If money will be gifted it will be from the ISA's my parents hold.
- If shares are gifted, my parents will first invest in my new business through the sale of their ISA's and then their shares will be gifted to the grandchildren.
- I will also be investing a percentage in my business as will a business partner(not related in any way)
- I understand the gift will be PET - after 7 years it will no longer form part of my parents estate.
- What I want to understand is whether future dividends paid to the children will be treated as their own income (and not mine or my parents) and therefore whether the children ill be able to use their tax allowance.
- I would also like to understand whether gifting the money or the shares is the best option.
- I would also like to understand whether there are any other tax implications or non-tax for that matter.
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