Crunch Accounting, removing a B Class Shareholder & address change

[TheCyclingProgrammer]

Yes, you do need to be more careful if you are not married. As there could potentially be stamp duty and CGT implications.

As for the address change, that's much easier. It can be done online with CH. Advise HMRC, clients/agencies and any other suppliers know too.

Stamp duty shouldn't be an issue if the shares are gifted back.

CGT does need to be considered though - the shares may have been worthless when first gifted to partner, particularly if they were allocated on incorporation and may have little value now but OP should probably get a valuation of the shares just to show they have done due diligence. Its very unlikely any gain would be outside the CGT allowance but you need to at least show HMRC if they enquire that you've calculated this. Any gain should be based on market value not sale value.

As far as paperwork I'm pretty sure all I did when I transferred shares was record some company minutes noting that the shares had been transferred, filled out a share transfer form and filed it away with the minutes, updated the company share register and printed off updated share certificates. Companies House do not need to be notified until your next confirmation statement.

[gypsymoth]

Stamp duty shouldn't be an issue if the shares are gifted back.

CGT does need to be considered though - the shares may have been worthless when first gifted to partner, particularly if they were allocated on incorporation and may have little value now but OP should probably get a valuation of the shares just to show they have done due diligence. Its very unlikely any gain would be outside the CGT allowance but you need to at least show HMRC if they enquire that you've calculated this. Any gain should be based on market value not sale value.

As far as paperwork I'm pretty sure all I did when I transferred shares was record some company minutes noting that the shares had been transferred, filled out a share transfer form and filed it away with the minutes, updated the company share register and printed off updated share certificates. Companies House do not need to be notified until your next confirmation statement.

Appreciate the feedback!

[RonBW]

On the contrary. One of the last posts I can remember was that a customer had discovered a significant issue with their accounts. It turned out to be a bug in the portal software. Now, I'm not saying it would be impossible to also happen to a FA user, but given the weight of users of the software now, you'd have to be very unfortunate indeed to the very first person to discover a bug like that. (IMO, of course).

You can see the list of the 67 current problems that FA are working on here.

Some that have been marked as "In Progress" have been around for a while, eg this one has been there for 7 years now

[TheCyclingProgrammer]

You can see the list of the 67 current problems that FA are working on here.

Some that have been marked as "In Progress" have been around for a while, eg this one has been there for 7 years now

Are you sure FreeAgent are still updating this list? As you say, some of them are pretty old.

AFAIK, the only *official* list of work in progress is here: https://www.freeagent.com/depot/

[RonBW]

Are you sure FreeAgent are still updating this list? As you say, some of them are pretty old.

AFAIK, the only *official* list of work in progress is here: https://www.freeagent.com/depot/

There are employee updates from 4 months ago about some of the problems, so someone is looking at them (or was in the last quarter of last year).

I presumed that the forum called "problems currently being worked on" was still active rather than being archived or locked, but I have no idea if they are still updating that list or not. That said, I can't see how to order the posts in any way to see what is recent and what isn't.