Hi everybody, i am aware there are different articles and posts around this area but i have found mixed responses and most of it to do with husband/wife relationships.
My father has asked if i would let him make me a shareholder of the company to be able to send me a dividend payment of over 5k but less than 10k. And then for me to send it to his personal bank account as a gift.
This raises some red flags for me, he has assured me it is all legal, and whilst frowned upon by the HMRC they cant do anything against it.
i have read mixed things, some saying that i would have to show my involvedment in the company for that % of the dividends, when obviosuly i have no involvement at all.
Also i can imagine how it would look sending the exact figure out the same day to his personal bank account.
In a nut shell i just want to know if this is legal, and if not what the implications might be, i appreciate anyone who answers, i have tried to do research but cant find a definite answer.
My father has asked if i would let him make me a shareholder of the company to be able to send me a dividend payment of over 5k but less than 10k. And then for me to send it to his personal bank account as a gift.
This raises some red flags for me, he has assured me it is all legal, and whilst frowned upon by the HMRC they cant do anything against it.
i have read mixed things, some saying that i would have to show my involvedment in the company for that % of the dividends, when obviosuly i have no involvement at all.
Also i can imagine how it would look sending the exact figure out the same day to his personal bank account.
In a nut shell i just want to know if this is legal, and if not what the implications might be, i appreciate anyone who answers, i have tried to do research but cant find a definite answer.
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