My ltd company has been offered a contract paying in cash and shares. I'd like to understand where shares would show up on my company accounts. Are there any keywords/phrases to google to read up on it.
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Try a Google search for “find an accountant”.
Presume you’re comfortable with the tax issues. Oh, and how to value a (presumably) minority holding in a (presumably) unquoted company.
I assume you’re engaging a solicitor to deal with the shareholder agreement that you need.
I have an accountant, figured there was no harm in understanding a little before accepting contract.
Well speak to your accountant then! They’ll have full details of your plans and I would definitely do that before agreeing to the proposal that you described.
You figured wrong.I have an accountant, figured there was no harm in understanding a little before accepting contract.
You have provided virtually no detail. If you are exceptionally lucky, you might get a list of relevant matters to consider. More likely you will get advice that is at best irrelevant to your situation or, worse, actually wrong. Bear in mind you, as a non-accountant, have been able to join. How will you tell which answers are reliable?
The whole point of engaging an accountant is so you don't have to do this sort of research.
Can your company be paid the full amount in cash, then if you want the shares, buy in your personal name. Is EIS available? If in personal name, on a future sale by you, you may get BADR and cgt allowance also available.
The shares will have no value so not worth worrying about, you can ignore them.
Why would you take them anyway?