Share allocation post startup

[jka]

Hi,

I have just setup a limited company using an online service. When I did so I issued 1 share worth £1 to myself, with hindsight this was a mistake - I wish to issue 5 shares to myself and 5 to my wife. I have returned to the site where I setup the company and allotted a further 9 shares and the share capital is now £10 but there is no way (using the particular site at least) to allocate these new shares amongst my self (a further 4 shares) and my wife (5 shares).

I have read here about how to issue shares:
Setting up a limited company: How to issue shares - Startups

But I'm not entirely sure how relevant this is to my current predicament. Basically how do I go about allocating the extra 9 shares to myself and my wife?

Any advice would be appreciated.

[kingcook]

Hi,

I have just setup a limited company using an online service. When I did so I issued 1 share worth £1 to myself, with hindsight this was a mistake - I wish to issue 5 shares to myself and 5 to my wife. I have returned to the site where I setup the company and allotted a further 9 shares and the share capital is now £10 but there is no way (using the particular site at least) to allocate these new shares amongst my self (a further 4 shares) and my wife (5 shares).

I have read here about how to issue shares:
Setting up a limited company: How to issue shares - Startups

But I'm not entirely sure how relevant this is to my current predicament. Basically how do I go about allocating the extra 9 shares to myself and my wife?

Any advice would be appreciated.

If it were me, I'd speak to my accountant.

[northernladuk]

There are some pitfalls you need to watch with this. Gifting here shares towards the end of the tax year and then giving her a dirty great divi will attract attention from HMRC, as will different class shares, dividend wavers and changing shareholding too often. You need to make sure you understand all of this before you start.

There is also the aspect of the fact the wife now owns half your company and your income. We have posters on here that are in a lot of trouble with this once the relationship has broken down. Ask them if they think it was worth setting the wife up as a tax mule now.

Lots of differing opinions from accountants so I would seek their advice before moving forward.

Good thread on this here... plus lots of others in the search...

http://forums.contractoruk.com/accou...d-company.html