Share capital transfer to new owner

[170872]

Dear all, thank you for your answer to my recent post.

One more last question which I couldn't find an answer. Can the new owners (2) issse a 100 shares each instead of transfering the 75,000 shares will will trigger a stamp duty,

Thanks
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Hi All,

If a restaurant Ltd company with 2 shareholders (directors) each holding 75,000 shares sells the trade and a new owners (2) people takes over. How about the shares ? Is the shares transfer straighforward by changing details on companies house?
Or application to HMRC is required to notify the shareholdings.

On the other hand there is also a goodwill of £30K in the accounts which not amortize since created. What will happen to this.

Thanks

[amingram]

Hi

Before being able to answer your questions, I need to understand if you are selling :-

a) The shares in the company; or

b) The trade and assets of the business

If you sell the shares, then the goodwill of £30k remains in the company and transfers to the new owners.

If you sell the shares then stamp duty at the rate of 0.5% will be payable buy the purchasers on the consideration given for the shares.

Regards

Mark

www.wesram.co.uk

[marrow]

The new owners are not issuing any shares - they are buying the shares from the previous owners.

If they only buy 200 shares then the old owners still own 149,800 of the shares!