Shall I make my wife a director - "post artic"

[drac]

I don't want an accountant thanks! Had one of those and they made more mistakes than I did... at least doing it yourself you learn and understand the mechanics.
Cheers for the help

[freshblue]

Yup but could be VERY expensive if you get it wrong. Darren and SJD are recommended by most on here.

[Robot]

I don't want an accountant thanks! Had one of those and they made more mistakes than I did... at least doing it yourself you learn and understand the mechanics.
Cheers for the help

Read Tax Bulletin 64. Example 4 - Subscribed shares with little capital value then gifted!

[Bradley]

I don't want an accountant thanks! Had one of those and they made more mistakes than I did... at least doing it yourself you learn and understand the mechanics.
Cheers for the help

Read Tax Bulletin 64. Example 4 - Subscribed shares with little capital value then gifted!

Didn't the Court of Appeal say that the gifting thing would work even if there was little capital?

[drac]

as i understand the issue i thought that the gift of the share was NOT wholly or substantially a right to income. therefore whether it was gifted or the fact that there was little capital in the business the case did not fall within S660A ...

if that makes sense?
isn't that how we all we interpreting it ?

[Spartacus]

That was my understanding of what the judges said. If the share was gifted there would be no case to answer and, even if it wasn't, there is no case to answer anyway as an ordinary share is not wholly or substantially a right to income.

[Robot]

Congrats!

Drac – Went from

“We have a similar set-up. I was contemplating issuing a share to her and making her a director to split some of the dividends. I know it is a tricky one but I am seriously contemplating it. What do people think”?

To

“I don't want an accountant thanks! Had one of those and they made more mistakes than I did... at least doing it yourself you learn and understand the mechanics.
Cheers for the help”

To

“as i understand the issue i thought that the gift of the share was NOT wholly or substantially a right to income. therefore whether it was gifted or the fact that there was little capital in the business the case did not fall within S660A ...

if that makes sense?
isn't that how we all we interpreting it ?”

You obviously learn quickly Drac and without the aid of accountant. Well done

[drac]

I needed the gentle caring support of the CUK board to nudge me a little further into the right direction I think