I've not had to deal with this before so any guidance would be greatly appreciated.
My client has a Ltd co, there are 2 shareholders- each with 1 share of £1.
The ltd co has paid £250 to one of the shareholders for the sale of his share to the other shareholder.
What is the double entry for this in the accounts? I'm thinking the £250 should have been paid by the other shareholder?
Can I just transfer the £1 share to the other shareholder via the DL?