- Original Poster
- #1
My partner discovered the following and wondered if this is something we could do (I sell him the business at a peppercorn price and he buys it as an ISA, to resell to a new buyer (as currently selling limited business):
"Over 19 million Brits use a popular tax shelter known as an ISA (Individual Savings Account) to keep income and capital gains safe from the taxmans grasp.
In this tax year, investors can put up to £11,280 into an ISA (of which £5,640 can be in cash). Gains made inside an ISA are free from CGT, so an ISA is one of the best defences against paying needless tax. Over many years, some investors have built up six-figure sums inside ISAs, all protected from HM Revenue & Customs (HMRC)."
I have never heard of this before, so not sure how (or if) it would be done. I have heard of share portfolios within ISAs but none who have transferred their own company shares into one.
CAN IT BE DONE...?
"Over 19 million Brits use a popular tax shelter known as an ISA (Individual Savings Account) to keep income and capital gains safe from the taxmans grasp.
In this tax year, investors can put up to £11,280 into an ISA (of which £5,640 can be in cash). Gains made inside an ISA are free from CGT, so an ISA is one of the best defences against paying needless tax. Over many years, some investors have built up six-figure sums inside ISAs, all protected from HM Revenue & Customs (HMRC)."
I have never heard of this before, so not sure how (or if) it would be done. I have heard of share portfolios within ISAs but none who have transferred their own company shares into one.
CAN IT BE DONE...?
