Wealthy families are increasingly using a type of company for their investments that does not limit their losses but helps them to avoid inheritance tax and keep financial data out of public view.
The appeal of setting up a private unlimited company is twofold, said advisers to the rich. First, they do not need to file annual accounts at Companies House and, second, parents can start handing over assets to their children to reduce their tax bill.
The risk is that any losses from investments made by the company, or an operating business held within it, are not confined to shareholder capital as with a limited liability company.
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