HOW TO TRANSFER SHARES FROM ONE PERSON TO ANOTHER
The shares of a limited company can be transferred from person to person at any time. This can be done in two ways:
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A shareholder sells some or all of their shares to another person, or by
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A shareholder gifts some or all of their shares to another person, without any financial transaction.
The 121 Company Formation Transfer of Shares service will ensure that all the necessary paperwork is completed correctly and submitted to Companies House on your behalf.
The process is usually complete within 24 and 48 hours
HOW IT WORKS
To transfer shares, the J30 Stock Transfer form must be completed.
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Full details of the company must be entered on this stock transfer form
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The J30 form must be signed by both the transferor of the shares and the transferee (the person receiving the shares)
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In some cases the shares will be transferred to a new shareholder whilst in other cases, shares may be transferred between existing shareholders, i.e. between family members. In either case, the J30 Stock Transfer form must include the following information for the person receiving the shares (the transferee):
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Full name
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Contact address – this will be displayed on Companies House records and the share certificate
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The class, number and value of shares being transferred
If the value of the shares being transferred exceeds £1,000 then the person buying the shares is required to send the J30 Stock Transfer form to HMRC who will calculate the amount of Stamp Duty payable. 121 Company Formation will facilitate the entire process as part of our Transfer of Shares service.
The share transfer is only updated at Companies House once a
Confirmation Statement
is filed. We always advise you to submit a confirmation statement online in order to fully reflect a share transfer, especially if the share transfer is required to open a business bank account or for another immediate purpose.
In the interim, you can use the new share certificates, your amended Memorandum & Articles of Association, and your original J30 form to prove the share transfer and any private sale contracts you may have drawn up.
PURCHASE THE TRANSFER OF SHARES SERVICE
For just £39.99 purchase the Transfer of Shares service through our website or for further information email us at:
info@121companyformation.co.uk
.
