This week on Ask Rob & Rob, Mr. Has asked:
How should I structure my new property company?
The answer started with a big caveat, that The Robs aren’t experts in this field, and their suggestions should be accompanied by research of your own.
It then went on to suggest that you set a company up where 98% of your shares are in your children’s names – if you’re looking to pass wealth onto your children, that is. 1% of the shares should then be in your name, and the other 1% in your partner’s name. These shares are controlling shares, and are the ones that allow you make all the decisions. The 98% are non-voting shares, leaving you in control.
Then when the portfolio comes to be passed on, inheritance tax won’t be an issue. Take this information to your tax advisors; they should be able to run with that.
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