Formal winding up required?
I have a client with share capital of £100k and he is now looking to wind up the company.
He has another accountant who has advised that if the company purchases £97k of its own shares (it has sufficient reserves to aviod a whitewash) and then does an ESC16 then this will get round the rules regarding share capital in excess of £4,000 going to the Treasury Solicitor.
I thought that the Capital Redemption Reserve is treated the same as the share capital and therefore this solution solves nothing.
Anybody got any views?
- US company hiring UK citizens in UK 220 3
- Turnover on a tax return 76 5
- VAT refund 88 1
- Companies House paper incorporation - date of birth omission 194 3
- Is there an AIA calculator anywhere 169 1
- incorrect old p60 359 8
- Reclaiming VAT on refurbishment cost? 250 3
- Missing tax return 356 4
- Are you going to Tick and Bash on 21 May? 1,088 30
- Inflation and fees 1,389 24
- Sage Priority Support 177 3
- Cost of demolition of a shed - revenue or capital? 831 24
- Micro-entity accounts 247 1
- Related party disclosure 215 3
- Company reconstruction 151 1
- Rolled up interest and late interest rules 240 6
- US LLC - anomaly in UK and US treatment 159 3
- Basic Tools and PAYE succession 179 1
- Advice please! 426 2
- VAT on new builds 190 3