Children as shareholders

[malvolio]

True, but as you say, pretty thin and likely to be overthrown.

The settlement bit is at the heart of Arctic of course - but bearing in mind Diana Jones paid for her share at the same price as Geoff did and has done real, fee-earning work for Arctic in her time, that is apparently not too strong a defence either.

Rumour has is it the Arctic appeal won't be until next year now. One day,we'll know the answer!

[DaveB]

True, but as you say, pretty thin and likely to be overthrown.

The settlement bit is at the heart of Arctic of course - but bearing in mind Diana Jones paid for her share at the same price as Geoff did and has done real, fee-earning work for Arctic in her time, that is apparently not too strong a defence either.

Rumour has is it the Arctic appeal won't be until next year now. One day,we'll know the answer!

Not a rumour according the the PCG front page. Postponed until after Jan 31st.

[philip@wellwoodhoyle]

True, but as you say, pretty thin and likely to be overthrown.

The grandparent thing definitely worked - in my previous job as a tax manager, we did it for loads of clients and it was given the green light by tax counsel. It also stood up to HMRC enquiry in a couple of cases that were investigated. The key is to get it set up properly, and to do that you need the tax experts - we used a tax barrister. As I say, I am rusty as we've not had one to do for a couple of years, so I don't know if there have been any recent changes to prevent it being done these days. Also, I can't remember why, but some schemes were set up via a trust (and A&M trust if I remember rightly) and some weren't. Now I have my own practice, I don't get involved directly with them anymore - we just passed the clients on to the barrister and left them to it. I don't think S660 would affect it directly, but what I worry more about is what Govt will do to change the law if HMRC lose the Arctic case.