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?
- Simplified use of home - contradiction 228 4
- Dissolved company with o/s corporation tax 186 5
- Teacher doing marking - tax deducted 435 5
- Companies House late filing penalties 2,939 94
- Repayment of maternity pay 48 1
- Self assesment online 197 3
- maternity allowance for self employed individual 154 1
- US/UK Dual Citizenship 90 6
- Refusing to complete a tax return 311 9
- Year end 82 1
- 31 Jan Procrastination Question: Computer Monitors 396 13
- What sectors to target? 281 10
- Online Payroll with Auto Enrolment 153 2
- Pounds Shillings and Pence 888 31
- IHT and cash gifts 177 4
- Previous auditor threatening to sue our firm for unpaid fees 731 32
- Practice management 206 3
- Corporate LLP with 30 June Year end - How to record on SA800? 366 1
- Flat Conversion Allowance 84 1
- Watch out self-assessment scam e-mail 253 4
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 911
- Underpaid VAT assessment and relation to SATR 623
- Did you realise Google will not patch android exploit ... 584
- Latest phishing scam 550
- Cashback for opening business bank acct = trading income? 384
- Auto Enrolment Questions Answered 287
- Loan benefit after person ceases as director/employee 208
- Capital allowances in first basis period 196
- Sabbatical payments 182
- Scratch Head 175