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Thanks Big Mizzle - glad you found we explained this well. If you have any other subjects you would like us to explain by video, just leave a comment and we'll see if we can make it happen!
Amazing thank you I have a lesson on this today this has helped me no end , and given me a head start x x Have a lovely Christmas you explain things so well I will re watch this multiple times before my lesson x
Many thanks. I am just starting a business, when I registered it with Company House, I added someone as 50% share holder and I'm also 50%, but the person has left the company and no longer interested, now I want to remove the shares and add myself as 100%. Still not sure of how to do that as you have not showed us screens.
In 1990 i have purchased some share of company but could not sent for transfer in time then after extending transfer deed validaty from ROC shares were sent for transfer but company did not transfer shares. I have also not filed any case in any court against the company. Now shares have been transfer to INVESTOR PROTECTION FUND in the name of transferor. Please let me know how I get shares and what is the provision and remedy for me.
Very helpful Nick. Several years ago my mother transferred shares to my brother that had been left by my father, to me & my sister in his will. He DID NOT get board approval (my sister & myself) does this mean the transfer was illegal?? Just to add i only found out after my mother's death.
Informative video. But where do you actually go to do the transfer ? Companies house ? .gov ? Can it be completed electronically or does a physical form need to be completed?
You can either complete a transfer of shares yourself, or via a qualified professional such as ourselves. The transfer forms themselves are sent to Companies House; however, if Stamp Duty is due then HMRC would also need to be contacted. Generally speaking, transferring shares are filed via hard copy (physical form), but there is nothing in legislation preventing them from being filed electronically. Are you looking to transfer shares in a limited company?
Can limited company paid shaers be transferred into cash and if so what is the process to do that. Also can you purchase land or property with paid shares and if so what is the process of how to do that
Thank you for your question and apologies for the delay in our response. Our understanding of your question is with respect to whether paid-up shares that have been issued in a company can be turned into cash (presumably to be received by the holder of those shares). Money that is used to pay up a share in a company forms part of the company’s share capital. Companies are highly restricted on returning this money to the shareholders through a doctrine called Maintenance of Share Capital. One of the few ways money can be returned to shareholders is through a reduction of capital - this is a process in which shares are cancelled (in other words, they cease to exist) and the money paid up on the shares is returned to the shareholder. With respect to the purchase of land or property with paid-up shares - in principle, there is no reason why shares could not be used as consideration as part of an agreement to buy land or property. Whether this would be acceptable largely depends on the seller, but the process would usually start with an agreement between the buyer and the seller of the property/land being signed. Kind regards, The 1st Formations Team
Thank you for the enlightenment! A share certificate was issued 10 years ago but the details were not registered with the companies house. How do you sync the share certificate with the companies house registry considering that every confirmation statement to date was missing that information?
Thanks for the question, Nastazio. If you hold shares in a company and this has not been accurately reflected on the public record (Companies House), we suggest you contact the company to arrange to have this amended. The directors of the company have a duty to ensure that the public record is correct, and where this has not been done, the relevant forms (including the confirmation statement) would need to be rectified. Are you part of the company?
Unfortunately transferring and issuing shares is not something that can be done via Web Filing. Although, you don't need an accountant to oversee this process. We offer both issue and transfer of shares services: www.1stformations.co.uk/issue-of-shares/ www.1stformations.co.uk/transfer-of-shares/
What is the best way to issues new shares and transfer them? Scenario, 2 directors, Director A owns the one and only share in the company. Director A would like to sell director B 25% of the business and possibly more in the future. The plan would be to issues 99 shares, taking the total to 100. Director A would then sell 25 of his 100 shares to director B for cash. Would this be the best way to do it and what forms would need to be completed.(there are only 2 directors)
Hi Stewart, in regard to your query, you can do an Issue of Shares for Director A to turn the share quantity in the business from 1 to 100 shares. You can then do a Transfer of Shares from Director A to Director B of 25%. This would be a great way to do this and we can help. We offer both Issue and Transfer of Shares at 1st Formations and will do all the necessary filing needed for you. Please call us on 020 3897 2233 and one of our team will be more than happy to explain this service to you in more detail. Thank you.
Thanks for your question. The quick answer is no - directorship has no link to shareholdings, so no shares will be lost even if the director is removed. Do you have a situation where you want to remove a director?
@@1stformations Thank you so much for replying. Yes I removed a Director and then updated it on my filings. Am I able to email you somewhere for advice please? I also have an account with you.
@@withlovebyads Of course! We'll be more than happy to help. Take a look at the link below and you'll find the different ways you can contact us, including a live chat option: www.1stformations.co.uk/contact-us/
Hi I am the sole sharehoder and director of a ltd company in a property investment, however I would like to split half the company in every way with equal shares with my new business partner who will then own half the property in tje company, however i take it they would they also then automatically take on 50% of the debts the company also has? Thanks
Thank you for your kind comment. Generally, the ownership has no relationship to any debt owed. However, as we are not regulated to provide accountancy advice, we are unable to provide advice on specific scenarios. We would recommend contacting an accountant for further assistance. Please accept our apologies for any inconvenience caused.
Hello Nick Thanks for the explanation. In the case of a transferee who is paying for the shares in installments as a consequence of a termination settlement agreement, when does the form J30 need to be filled? once the transferee has fully paid or I can fill the form even though the transferee will have a full year to pay by installments? can I leave a note in the transfer form?
Hi! Thanks for the message. Whilst we can’t advise on specific cases, we would normally expect that the Stock Transfer Form is filled out and signed at the point of which the shares are agreed to be transferred across. It’s possible you may want to seek professional advice to ensure that you do not run afoul of any of your obligations from a tax and legal perspective.
Hi Carl. Share Certificates are produced by the company who then deliver them to the relevant shareholder(s) within a maximum of 2 months since the point they became a shareholder. If you don’t have a share certificate format, you can find numerous templates online (including ones for free). For the avoidance of doubt, Stamp Duty is no longer payable for the issuance of shares (for which the form SH01 is relevant form). Are you looking to create Share Certificates?
@@TheGlobePark Our blog on Share Certificates has a free Share Certificate template which you can download and use for free. You can find it here: www.1stformations.co.uk/blog/share-certificate/ Is this of use?
Thanks for your question, Syed. You must inform Companies House of a share transfer within 21 days. See here for more information: www.gov.uk/make-changes-to-your-limited-company/share-structure Are you intending to undertake a share transfer?
Thank you for your enquiry, Black Cat. Please contact our support team on +44 20 3897 2233, send us a message on live chat, or send an email to support@1stformations.co.uk, and we will gladly assist you with this matter.
