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We have a client who owns the only share in his company. There are three directors including himself. There is no connection between the directors other than they are members of staff. One was appointed in May 2024; another in May 2017.
My client wishes to give each 45% of the shares and keep 10%. We can issue another 99 shares to effect this. The balance sheet total is £100 000 without goodwill but the company only makes £20 000 a year after directors’ remuneration. There have been no dividends.
Will he have a CGT bill for giving shares? Will the directors have personal tax liabilities for receiving employee related shares? Is there a tax efficient way of doing this?
Query 20 405– Logan.
All might not be as it seems at face value.
Subject to the point I make below that may change the analysis ...
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