A Top Tax Tip for Family Companies

A Top Tax Tip for Family Companies

A Top Tax Tip for Family Companies

If you own a family company and your children are employees of your company, it is possible for the company to pay pension premiums on their behalf. 

The premiums will not count as a transfer of value for Inheritance Tax purposes even though the payments will reduce the value of the company and therefore the estate of the shareholders. 

If your children are not employees you can get around this by making them directors.

If you would like more information, please contact Steve Crompton on the details below:

Steve Crompton
Partner – Head of Tax
direct dial: 01942 292541
mobile:  07790 840394
email: 
steve.crompton@jsllp.co.uk

 

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