Continuing our series of legal articles for those working in tax Natalie Smith Osborne Clarke discusses the process for issuing shares and its relevance to tax practitioners
Recent developments have shown that those practising within the tax system need to have familiarity with the law concerning the process of issuing shares.
The concept of authorised share capital previously found in CA 1985 has not been carried through to CA 2006. Broadly this means that with effect from 1 October 2009 companies are no longer required to maintain an authorised share capital limit.
However for companies incorporated before 1 October 2009 the authorised share capital set out in their memorandum of association (as it may have been altered over time) immediately prior to 1...
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Continuing our series of legal articles for those working in tax Natalie Smith Osborne Clarke discusses the process for issuing shares and its relevance to tax practitioners
Recent developments have shown that those practising within the tax system need to have familiarity with the law concerning the process of issuing shares.
The concept of authorised share capital previously found in CA 1985 has not been carried through to CA 2006. Broadly this means that with effect from 1 October 2009 companies are no longer required to maintain an authorised share capital limit.
However for companies incorporated before 1 October 2009 the authorised share capital set out in their memorandum of association (as it may have been altered over time) immediately prior to 1...
If you are not a subscriber, subscribe now to read this content.
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