Talk to us about shareholding changes

We’ve recently experienced two cases where clients have decided to make shareholding changes in their companies, have gone online to the Companies Office website and Bob’s your Uncle, shareholding changes updated!

Actually, it wasn’t such a smart idea as it turns out.  Changing shareholding in your company without talking to us first can have dire tax consequences.  These consequences can be far reaching.  Continuity of losses carried forward can be affected, imputation tax credits can be lost forever, and under the new Look Through Company regime the flow of losses will be affected.

Moral of the story?  Talk to us when you’re contemplating share changes.  Even better, get us to be your Registered Office.  In fact, we do this for most of our clients.  We’ll file your annual return for you, and we’ll make sure you comply with all of your statutory records requirements under the Companies Act.

- December 2011, Trial Balance Issue 37

Kevin Smee

Director, Registered Financial Adviser

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Our articles are created and sourced by our advisers about subjects they are passionate about. They are designed to give you insight into a mostly misunderstood industry from their own experiences.