Can any body steer me towards a professional in this area.
The Basics.
I am involved in a company with three Directors. One of the directors wants to retire and we have come up with a value which we are seeking revenue approval from.
We intend to buy back the shares using company, money we have enough reserve to do this.
Can anybody tell me the most effective way to re-issue the shares to the other two directors.Do we have to buy them at face value ie what we bought them for.We have valued the share holding at 5000 per share.
I have been told by an accountant that we can issue the share to ourselves and pay CGT at 1%. Othe sources have told me differant.I cant seem to get an exact answere to this.Would the revenue or companies office give me the exact answere to this.???????
The Basics.
I am involved in a company with three Directors. One of the directors wants to retire and we have come up with a value which we are seeking revenue approval from.
We intend to buy back the shares using company, money we have enough reserve to do this.
Can anybody tell me the most effective way to re-issue the shares to the other two directors.Do we have to buy them at face value ie what we bought them for.We have valued the share holding at 5000 per share.
I have been told by an accountant that we can issue the share to ourselves and pay CGT at 1%. Othe sources have told me differant.I cant seem to get an exact answere to this.Would the revenue or companies office give me the exact answere to this.???????