Family Investment Companies: Passing Wealth On Without Giving Up Control
Hoxton Videos • Family Investment Companies: Passing Wealth On Without Giving Up Control
Passing wealth to the next generation doesn’t necessarily mean giving up control over how it’s managed.
For families thinking about succession planning, a Family Investment Company (FIC) is one option that can allow parents to stay in the driving seat while involving their children.
In this discussion, Claire Spinks, Global Head of Tax, and Andrew Robinson, UK Tax Director at Hoxton Wealth, explore the decisions families need to make when considering a FIC, and when a trust, a FIC, or a combination of both might be more appropriate.
What the discussion covers:
- How a FIC can allow parents to retain control while involving the next generation
- When a trust, a FIC or a combination of both may be the better fit
- The role of family relationships and share structures in the decision
- How UK residency and inheritance tax exposure can influence the approach
- The potential tax costs of transferring assets into a company
- Why planning ahead matters for business owners approaching an exit
- How directors’ loan accounts can be used within a FIC structure
- The ongoing responsibilities involved in managing a FIC
Whether you are building a succession plan, preparing for a business sale, or simply thinking about how best to pass on what you have built, this conversation is a useful place to start.
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