share transfer

share transfer

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could someone confirm the steps to follow to make a share transfer. THe company is a year old and the 60% shareholder is transfering his full share holding to the 40% shareholder for nil value. The company is not worth any money at the moment. Are there any tax implications or do i just need to inform companies house. Also is a stock transfer form required.

thanks for your help
Janette Dalgliesh

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By AnonymousUser
06th Dec 2005 21:40

You should...
complete a stock transfer form showing nil consideration and sign the back re category L (gift inter vivos) ie no stamp duty. Then show amended shareholdings on next Annual Return - no need to inform Cos House in the meantime.

If the company has no value then there are no tax implications.

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