.png)
.png)
Woe, thrice woe!
KEY POINTS
- Consider whether the extent of the owner’s control of the business in terms of shareholdings.
- Factory could be given to the children as a potentially exempt transfer.
- Selling the premises to the company may give rise to other issues such as stamp duty land tax.
- Impact of the First-tier Tribunal decision in Reeves on holdover relief and non-UK residents.
It was the soothsayer Senna in Up Pompeii! who gave the warning of woes to come for its citizens as with the ancient city of Gomorrah adding after a pause ‘and Sodom!’ I thought I might borrow her pronouncement to cheer the holiday season along. My woes are for those who own trading premises used by a family company.
The scenario
With such companies it is quite common for the business premises...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
