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A recent development in company law has eased decision-making in relation to reducing share capital. DAVID JEFFERY explains
KEY POINTS
- Making reductions in company share capital can be costly and time-consuming.
- Beneficial effect of Companies Act 2006 ss 641 to 657 for private companies.
- Buy-back versus share reduction.
- Dissolving a private company.
- A reduction can be equivalent to a transaction in securities.
Tax advisers these days do not have an easy time of it. The laws become ever more constricting and complex and HMRC more heavy-handed in their approach to taxpayers.
But from time to time a shaft of light appears that lifts the gloom a little and which makes tax planning easier in certain areas.
The purpose of this article is to consider a change in company law which was introduced in the 2006 Companies Act and took effect on 1 October...
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