A Family Investment Company – or FIC for short - can offer a tax-efficient alternative to holding family investments personally or passing wealth on outright. These have become a popular alternative to historic trust structures, but can work in a similar way.
FICs are generally used by individuals and families with significant personal wealth, surplus income, investment assets, property portfolios or business sale proceeds, who are looking to pass wealth on to future generations in a structured and tax-efficient way.
They may be worth considering where you want to involve the next generation in family wealth planning, while the people setting up the company continue to make the key decisions about how assets are managed and when family members benefit.
Whether you are looking to review your inheritance tax position, protect family assets or plan for succession, our specialist tax advisers can help you decide whether a Family Investment Company is the right structure for you and your family. We look at the wider picture, so that any structure is carefully considered and works for your family, as a whole.
How we can help:
- Advice on whether a Family Investment Company is suitable for your circumstances
- Tax consequences of setting up and maintaining the FIC
- Guidance on company structure, share classes and family ownership
- Ongoing accounts, tax compliance & company administration
- Working alongside your legal and financial advisers to ensure you are looked after covering every aspect
With the right advice, it can form part of a carefully planned approach to protecting family wealth for future generations.
Please get in touch to discover how we can help you plan, for the future.