Our company has 100 ordinary £1 Shares issued and £1 was paid for each of these when the company was formed.
Some of the members now want to transfer their shares. They are wanting to sell them for just £1 (it is inter-family!) but our balance sheet shows Shareholder funds of just over £100,000.
Would HMRC accept the payment of £1 for the transfer or would they value them at £1,000 each causing a Capital Gain for one of the members who has 40 shares?
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