Transfer of Shares

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acsacsacs
acsacsacs Registered Posts: 43 Regular contributor ⭐
in General accounting discussion
Quick question here.

I have a limited company client who have one year under their belt. The husband wants to transfer some of his shares (assume standard £1 shares) to his wife in order to try and share the dividends and avoid the higher tax bracket.

Has anyone got any advice they can give regarding this?

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  • acsacsacs
    acsacsacs Registered Posts: 43 Regular contributor ⭐
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    Anyone?
  • Fingersan
    Fingersan Registered Posts: 84 Regular contributor ⭐
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    Hi there

    There is a form called a J10 (Stock transfer form) that you should use. You can obtain a copy and view an example from here:

    http://www.sfsgo.com/freedownloads.asp

    I don't think that this form has been changed re the CA2006 and as far as I am aware, you just keep the form with the company's statutory records.

    I guess the company should also hold an EGM concerning this and have it noted.

    It has been a while since I have done this but I am sure it is straight forward. Perhaps someone could confirm this is right?

    Hope this helps

    Regards

    P.S. Something to bear in mind is the wife's involvment in the company and what she actually does, bearing in mind Arctic Systems and the Revenue looking at this as income shifting.

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