Shareholders??

[Sockpuppet]

Actually I have just had a look at the second page of the J30.

there are actually two parts to it.
mamely

1) Form of certificate required where transfer is not liable to stamp duty
2) form of certificate required where transfer is not liable to Ad valorem stamp duty


I presume I only have to fill out section (1), right ?

css_jay99

Form a new company and take out a contract with your old company for some consulting. Drain bank account. Fold first company.

Now that is probably illegal...maybe even money laundering. Get an accountant or alternativly just go on one hell of a bender and put it through as expenses. That'll teach the bitch.

[ratewhore]

from recent experience, the court takes the view (for divorce at least) that, although the director and the company are two different legal entities, if there is no adverse impact on another party (such as other directors, suppliers etc), the company money is the directors money. That is just where the ex-wife is not even a shareholder and has no legal interest in the company. The court can then raise the corporate veil and make appropriate orders taking into account the money in the business.

The courts are clever enough to realise when a new director is appointed the week before the hearing so the expenses route is a legitimate way to go. I particularly like the other company invoicing your company. Thats client confidential information of course which shouldnt be explained in court...

[DanTheMan]

Well I just called my accountant. Apparently by issuing the one share to my father he effectively now owns the company. I have to fill a form out to transfer the share back to myself. This I will do ASAP!

I think the form is what you need too. The only problem is that the person has to agree to relinquish their shares so you may have a tricky situation there.

[css_jay99]

Good news,

The Ex signed the paper work for stock transfer with no force, so i guess i can now pay myself divs.

still can someone let me know what paper works I need to declare and pay divs ?

Cheers

css_jay99

[css_jay99]

From companies house website

10. How are shares transferred to new owners?

The transfer of shares in a public limited company is usually dealt with through a broker as described in question 9.

To transfer shares in a private or unlimited company, a seller must complete and sign the appropriate section of a 'stock transfer form' - available from law stationers - and pass it, together with the share certificate, to the new owner.

The new owner must then complete their section of the stock transfer form, pay any stamp duty to the Inland Revenue and pass the completed form and share certificate to the company. The company secretary then arranges for the directors to authorise the change to the members' register and issues a share certificate in the new name.

Now that she has signed what do I do? Above is an extract from Companies house web site.

Does this just mean that all I have to do is just keep the J30 form (without sending it to CA) and them somehow (don’t know how) notify CA of change in share holders?

Cheers

[Nixon Williams]

The change of shareholders is reported via the Annual Return, just make the amendments on the return.

There is no need to have the transfer form stamped by the Revenue is there is no cash changing hands, if it is a nil transfer there is no Stamp Duty due.

I hope this helps

Alan

[css_jay99]

thanks very much, that sorts things out.

I still need info regarding paying myself divs and necessary paper work


cheers
css_jay99

[css_jay99]

thanks very much, that sorts things out.

I still need info regarding paying myself divs and necessary paper work


cheers
css_jay99

Please ! or even a web link

thanks

[boredsenseless]

Good news,

The Ex signed the paper work for stock transfer with no force, so i guess i can now pay myself divs.

still can someone let me know what paper works I need to declare and pay divs ?

Cheers

css_jay99

I would get an accountant/solicitor to look into this as well since if you have been trading the shares have a real value above their nominal face amount and you could be liable to CGT and/or stamp duty on them.

[css_jay99]

I would get an accountant/solicitor to look into this as well since if you have been trading the shares have a real value above their nominal face amount and you could be liable to CGT and/or stamp duty on them.

Actually I can see your point, but consider that the real value of the shares is what someone else is wheeling to pay, in my case £0.

Afterall is i transfer shares ( of say £15,000 in UBS) from myself to you at a Nil transfer rate, then what you get is the amount with no reference to the UBS's assets.

off course I most possible dont have a clue on what I am saying, but the J30 form seems straight forward expecially since we are talking only about £5. remember as well that i have been trading for less than a year