We are currently looking at simplyfying our business structure. We have a holding company with only shares in. No other assets/liablilties are in this holding company. Our other main subsidiary has all sorts of
liabilities and finance agreements. We are planning to swap the names as we want the Group name as the main business name. The main susidiary (ie ex holding company) will then become a dormant company. If we simply change the names and do a straight share for share swap are there any tax implications? The directors are effectively giving up their shares in one company are re issuing them in the other. There is no gain/loss for either them or the companies.
Sue Duma
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Hive up process
We are going through the very same process you have mentioned in your email.
We are hiving our business up one level to the parent that in the meantime has changed name.
It can be a lenghty process particularly if the business does have overseas branches whose legal frameworks can be different.
Let me know if you want to know more.
Regards,
Gianpiero