Close company - transfer of shares
Poodle
Registered Posts: 711 Epic contributor 🐘
Hi,
The scenario: husband and wife ltd company each with one £1 osc.
Hubby wants to buy out wife.
So he is going to pay her an amount not exceeding £50k for her £1 share.
There will be no CGT.
CH will be advised of share transfer.
Stupid question really but I just cannot get my head around the bookkeeping, I am having one of those days is it really as simple as £50k into hubbies bank account, nothing to do with the company and then nothing in the actual company accounts since the OSC is already showing as £2.00?
The scenario: husband and wife ltd company each with one £1 osc.
Hubby wants to buy out wife.
So he is going to pay her an amount not exceeding £50k for her £1 share.
There will be no CGT.
CH will be advised of share transfer.
Stupid question really but I just cannot get my head around the bookkeeping, I am having one of those days is it really as simple as £50k into hubbies bank account, nothing to do with the company and then nothing in the actual company accounts since the OSC is already showing as £2.00?
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Comments
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Stupid question really but I just cannot get my head around the bookkeeping, I am having one of those days is it really as simple as £50k into hubbies bank account, nothing to do with the company and then nothing in the actual company accounts since the OSC is already showing as £2.00?
Yes. The shares are personal investments.
My noodle is already baked this morning so don't rely on my answer....!!0 -
Agree if the husband is buying the shares from the wife then the transaction has nothing to do with the company.Regards,
Burg0 -
Thank you guys
If I was not going grey i would say that today is really blonde!!0 -
Not sure why no CGT on sale of share?0
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