Share Purchase For Private Company Shareholders

Below is a selection of our most recent updates on this subject.

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Valuation Of Minority Shareholdings

In Erdal v HMRC (2011) UKFTT 87 (TC) the First-tier Tribunal (Tax) considered a number of practical issues in arriving at the 31 March 1982 value of a minority shareholding in a private company.
Friday, May 13, 2011

Option Agreements And By-Pass Trusts

Our bulletin dated 25 May 2010 considered legacies to existing lifetime trusts. Here we consider Will legacies of business interests which may be subject to an option agreement for sale.
Thursday, May 27, 2010

When Is A Contract For Share Purchase In Force?

A share purchase agreement between two shareholding directors was held to be in force even though neither of the parties to it had signed it, the High Court decided in Grant v Bragg (2009).
Thursday, March 26, 2009

Implementation Of The Companies Act 2006 Provisions Delayed Till 2009

The Companies Act 2006 is being implemented in stages. A large number of provisions affecting private companies which were due to be implemented in October 2008 have been delayed until October 2009 ( see our bulletin dated 8 November 2007).
Monday, January 21, 2008

Companies Act 2006 - Latest

Next batch of provisions of the Companies Act 2006 came into effect from 1 October 2007.
Monday, October 29, 2007

Companies Act 2006 And Private Companies

Companies Act 2006 received Royal Assent last November. Some of its provisions came into effect in January 2007 and the remainder are due to come into effect by October 2008. The Act consists of 1300 sections and is the single largest piece of legislation ever made. It consolidates and replaces existing company law contained in Companies Acts 1985, 1989 and 2004. It also introduces numerous new rules. Whilst many of the rules introduced for public companies are seen as onerous, as far as private limited companies are concerned, the aim of the Act was to deregulate private company administration with the new regime being much simpler and more lightly regulated.
Thursday, July 05, 2007

Company Law Reform Bill

In November 2005 the Company Law Reform Bill was introduced to the House of Lords. It is currently going through the Committee stage. When the Bill comes into effect as the Company Law Reform Act 2006 - expected in April or October 2007, it will affect companies of every size.
Wednesday, March 08, 2006

Business Trust Arrangements - Is There A C G T Problem ?

Capital gains tax and life assurance policies: business trust arrangements; reverter to settlor; is there a potential capital gains tax problem ?; Inland Revenue confirm there is no problem.
Monday, March 14, 2005

Documentation

Revised s210 Taxation of Chargeable Gains Act 1992 - life policies (caught) within CGT net if 'actual consideration' (apart from premium payments) has been given for them at any time - possibility that this opens up the scope for using existing policies that have not, to date, been subject to trust for business succession purposes without bringing the policies into potential future charge to CGT - conclusion that it does not.
Thursday, October 23, 2003

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