Restructuring share structure of an LTD

[minstrel]

That's assuming that you are the sole beneficiary of their will. I know my parents leave everything to me, my brother and my sister, plus a number of charities and also to the grandchildren.

It might work in some cases but I'd guess that in the vast majority it won't.

I take your point and, as I said, it depends on your relationship with your family.

I would prefer to share my wealth with family members and reduce the overall family tax liability even if that means I am personally worse off.

Many contractors have no hesitation in doing a 50/50 share with a spouse (which has a possibility of ending up in divorce), but don't consider other flesh and blood family members whose relationship could be more long lasting.

[northernladuk]

I take your point and, as I said, it depends on your relationship with your family.

I would prefer to share my wealth with family members and reduce the overall family tax liability even if that means I am personally worse off.

Many contractors have no hesitation in doing a 50/50 share with a spouse (which has a possibility of ending up in divorce), but don't consider other flesh and blood family members whose relationship could be more long lasting.

But it's been argued that the wife supports the husband as per the Arctic case. The family doesn't. By distributing to them you are just using it as a tax advantage which is against the spirit of the rules...and I am sure if you get too complacent and get it wrong against the actual rules. It's not something I believe we should be actively advocating.
There must a be a good reason why many of the guides advise against including anyone but your spouse.

Maybe not in your case but I'd be willing to bet a good majority of people with family involved in their share structure will be expecting the money back in some form or other in the short term.

[RonBW]

I take your point and, as I said, it depends on your relationship with your family.

I would prefer to share my wealth with family members and reduce the overall family tax liability even if that means I am personally worse off.

Many contractors have no hesitation in doing a 50/50 share with a spouse (which has a possibility of ending up in divorce), but don't consider other flesh and blood family members whose relationship could be more long lasting.

I'd sooner stick pins in my eyes than risk my money ending up with my brothers wife and / or his awful children

The rest of them I have no qualms about, but not them. For me it's a moot point - my parents have significantly higher disposable income than I'll ever have, I think. Until they die of course....