You say the assignee would seek to realise value from my shares?
But what is that value if based on a bank balance of €50k?
I'm a one man band contractor. So there's no more income for the company once I'm gone.
Presumably the value of the shares is what someone is prepared to pay? So it's really just the cash at bank they'd be buying
If someone buys the company the cash is subject to corporation tax, (its uk registered so that's 20%), they are subject to personal tax upon withdrawal of cash(which would presumably be at top rate assuming they already have an income). Presumably there would be other expenses involved for the assignee and the buyer also?
I estimate there would be maximum under €20k net for the buyer to extract. Meaning no one will buy it unless they get it for significantly under €20k sale price.
Or is my methodology completely off the mark here?
And in practice is there a market out there to buy companies with only cash at bank and no future income?
In the real world does my share actually have a realisable value at all for the assignee?
Also - can they even sell my share if I have stepped down in advance and appointed someone else as a director?