Company Shares / payable tax - accountants?
07 February 2009, 06:18 PM
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Company Shares / payable tax - accountants?
Hi all, after a little info from any financial bods.
Me and my business partner have just acquired 50% stake in a business. We are about to allocate shares. My question is;
We would prefer the shares to be held in a company name ie, x business ltd, I have 35% of the 50% and my partner has 15%. It is more useful to us to keep this discreet so I thought by having a company hold the shares it would keep it this way. I know people can check with companies house as to our shareholding in x business ltd but am not to worried about that.
What I want to know is, can I do the above? (ie not have shares to an individual but a company?) If so are there extra tax implications? We know we have to pay tax but dont want to pay twice. I will speak to our accoundant but wanted a heads up first.
Thanks
Chop
Me and my business partner have just acquired 50% stake in a business. We are about to allocate shares. My question is;
We would prefer the shares to be held in a company name ie, x business ltd, I have 35% of the 50% and my partner has 15%. It is more useful to us to keep this discreet so I thought by having a company hold the shares it would keep it this way. I know people can check with companies house as to our shareholding in x business ltd but am not to worried about that.
What I want to know is, can I do the above? (ie not have shares to an individual but a company?) If so are there extra tax implications? We know we have to pay tax but dont want to pay twice. I will speak to our accoundant but wanted a heads up first.
Thanks
Chop
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