The division was set up in April 2019, and its existence came to light in a freedom of … The FIC is set up by the founder transferring cash or assets … HM Revenue & Customs (HMRC) has quietly created a team to look into the use of family investment companies (FIC). A family investment company (FIC) is a company that invests rather than trades. If fees are paid for investment management or advisory services these will be tax-deductible. The trading company … Utilising a personal investment company The following summarises some of the ways in which a PIC can be used: Business planning In certain circumstances excess funds in a trading company could be lent to a PIC. There are a number of … When is it best to use Personal Investment Companies? A personal investment company (PIC) is a private limited company which is used as a long term investment vehicle. Where the shareholder funded the company and owns all the shares it could be difficult for HMRC to argue the … The investments are typically equity portfolios or property. Pinsent Masons flagged today (February 24) that the use of Family Investment Companies was under investigation by a small HMRC team known as the FICs Unit.

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