Form 42

Is form 42 required

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Company client with 1 director and same shareholder has found an investor for their company. The proposal is for the company to allot a new class of share which will cost the investor £x. The investor will also become a director of the company. Will a form 42 be required to report the new investment as the investor will also be a director? If the investor had not been a director, would a form 42 have been required?

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By ms998
20th Mar 2017 13:26

If they hadn't been an employee or a director then it can't be employee related securities and therefore no Form 42 required.

Whats the harm in filling in a form 42? No tax arises if the shares are being issued at Market Value.

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