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Capital Redemption Reserve

How to account for moving shares from Capital Redemption Reserve back to ordinary A share capital

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I have a client and the company bought back £xxxx shares into the Capital Redemption Reserve  (in Treasury) back in 2017. They now want to transfer these shares to an exsisting shareholder.  I would have assumed you would credit the share capital and debit the Capital Redemption Reserve is this correct? The shares will be transferred at Nil consideration due to heavy losses in the last couple of years. 

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By johngroganjga
23rd May 2020 11:23