Family investment companies ("FIC") started to be used as an estate planning vehicle following the changes to the tax treatment of trusts that took place in 2006. Since then the structure has become increasingly popular, especially as corporation tax rates have been reducing. As a result they are now widely used, but the term family investment company is applied to many different types of structures, used for a wide variety of purposes.
This title explores what makes a company a FIC, to consider how a company works and the potential ways to make them more bespoke, the different types of shares available, their features and when they may be appropriate.
It also covers the key tax issues for funding a FIC, winding one up, privacy, reporting and asset protection features. It includes lots of examples based on real cases, and where relevant complex areas are illustrated by flowcharts and/or diagrams.
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