I had a query from an accountant seeking assurance that the transfer of a business from an individual to a company, the shares which were owned by a trust, of which the individual was the only beneficiary, on the basis that there was no change in beneficial ownership.
Unfortunately, the rule is not as cut and dried as that, and our initial view is that transfer duty will be payable on the value of the business.
There were other ways that could probably have achieved the same end by a different route, but it is now too late.
For help with restructuring ownership of businesses transfer-duty-effectively, please contact Michael Paterson & Associates