Am going from a 2 director old style Ltd to the new style Ltd Company under CA 2014 that allows one director.
I have filled out the N1 and G1 form on CORE, am providing the original subscriber details as required and I have the new constitution ready.
Just wonder what happens the second director in the old style Ltd?
Thanks as always
Yes I did, it worked out fine, 2nd director retired and became secretary.
It took a while to process as they are snowed with conversions but they made it effective from date of submission.
I think I'm going the same way soon. Setup last year other director returned home to Spain and now doesn't have time to continue.
Not sure how it'll work in terms of shares. We haven't filed returns so technically no profit although there is a small amount from first job.
No advice here
Starting point would be the retained profits, unless there is serious growth potential.
The tax man will need to be happy with valuation but if its nothing special then value at the retained earnings