Shares issue back dated

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Company received funds on 20Dec2022 for share issue under EIS scheme but shares not issued. Can share be issued with back dated now or it needs to be issued with current date only.

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RLI
By lionofludesch
11th May 2024 21:58

Tell us exactly what you mean by "not issued".

Not notified to Companies House? Not in the share register? No share certificate? Not minuted? Not paid for? Or what?

Who's the shareholder? What evidence of payment does he have? What correspondence is there?

Have you contacted a lawyer? Necause this is essentially yet another legal matter.

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By JATIN WALIA
12th May 2024 08:32

We received share application money on 20Dec2022 from a person, but he died before shares allotment. Later on, his wife agreed to issue shares in her name. But we are unable to issue shares before close of Financial Year and moved the Share application money to Other Current Liabilities. But now we want to issue the shares in her name.
Please let me know the relevant date to issue shares now.

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By Tax Dragon
12th May 2024 13:32

So there are 4 parties - your "we", the subscriber, his executors/PRs, his widow. Seems to me at least 3 of those parties could do with taking advice.

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Replying to Tax Dragon:
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By JATIN WALIA
12th May 2024 16:11

Thank you for response. I'll discuss internally how to proceed further.

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Replying to JATIN WALIA:
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By Tax Dragon
12th May 2024 17:21

What I don't know, without looking at the legislation, is whether the EIS status of the shares can be preserved and whether it makes a difference if you simply issue the shares to the widow as you suggest. The need for advice probably falls more urgently on her and her late husband's PRs. I'd suggest that you don't act pursuant to your internal discussion without their instruction/approval.

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By taxdigital
12th May 2024 19:22

What's your connection with the company in question?

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