I'm surprised no-one has said this yet, but.... have you asked your accountant?
"Gifting" shares can be complex business when a non-spouse in involved, and can be a bit of a red flag if you're ever investigated.
On the face of it, it seems you want to give your friend some money, but rather than pay yourself dividends (and pay tax on those) and give him money, you're giving him shares so he gets dividends he won't pay tax on, therefore bypassing the need to pay tax on those dividends.
To me, that sounds like HMRC could look to include it under GAAR rules.
"Gifting" shares can be complex business when a non-spouse in involved, and can be a bit of a red flag if you're ever investigated.
On the face of it, it seems you want to give your friend some money, but rather than pay yourself dividends (and pay tax on those) and give him money, you're giving him shares so he gets dividends he won't pay tax on, therefore bypassing the need to pay tax on those dividends.
To me, that sounds like HMRC could look to include it under GAAR rules.
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