Many thanks for your comments, very helpful.
The client argues that the Articles were amended but not successfully delivered to Companies House, lost in post or else. I am thinking of submitting a late resolution of changing the articles along with the new articles showing clearly new classes of shares, dated where SH01 form was filed electronically... any ideas on this solution? Would there be any penalties for that?
I think it was a standard articles, in the shares section it says:
21. Further issues of shares: authority
21.1 The following paragraphs of this Article 21 shall not apply to a private company with only one class of shares.
21.2 Subject to Article 21.1 and save to the extent authorised by these articles, or authorise from time to time by an ordinary resolution of the shareholders, the directors shall not exercise any power to allot shares or to grant rights to subscribe for, or to convert any security into, any shares in the company.
21.3 Subject to the remaining provisions of this Article 21 and to Article 22 (Further issues of shares; pre-emption rights) and to any directions which may be given by the company in general meeting, the directors are generally and unconditionally authorised, for the purpose of section 551 of the Companies Act 2006 to exercise any power to offer or allot, grant rights to subscribe for or to convert any security into; otherwise create, deal in, or dispose of. any shares in the company to any person, at any time and subject to any terms and conditions as the directors think proper.
There was no amendment filed but the company paid different amounts of dividends to shareholders in those different classes without any waivers issued.
Trello & Insightly - both free but need to customise.
New address from 1 Sep 2017
Solicitor’s Office and Legal Services
Appeals and Reviews
I signed up for Iris OpenSpace but to upload anything you need to subscribe @ £5 a month for 1GB space, otherwise unable to upload any documents...
Thank you very much for this - panic over!
Thanks for this. HMRC states however "You must not use these rates in any other circumstances." so I am not sure you can use the advisory rate for input vat claim in private cars.
Thank you for this. I understand that the employees using their own car can claim mileage at 45p/25p mile. My understanding was that the company could also claim the input VAT on the mileage used for business trips made by emloyees in their own cars as per the advisory rates. However, as per my initial query, HMRC website states now that the advisory rates must not be used in any other circumstances rather than when company car is used. I do not remember seeing this statement before and think that this is something new. So what is the basis, if any, for claiming input vat on mileage done in private cars? I