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Transferring shares in a limited company

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  • 17-02-2004 1:39pm
    #1
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭


    Is there any special forms etc required when you transfer shares in a limited company? Does any one here know the procedure?

    thanks
    007


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    #2
    midget lord
    Closed Accounts Posts: 956 ✭✭✭midget lord


    indeed there are. You will be able to get all you need from
    here. However there are different forms for different types of transfer. For example if this an entirely new allotment of shares a B5 should be filled and the capital duty paid thereon. However if its a direct share transfer details should go on a form B10 stating that a new shareholder has been introduced. These details will also have to be furnished on the B1 when the company makes its annual return.

    You also need to inform the companies registration office if the former shareholder was also a director and is retiring from that position too, a form B10 should be used for this, the new director/shareholders details will need to be filled out on this too, if they are taking up the position of director.


    Hope this helps bond.


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    #3
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    A B10 is only for notification of change of director/secretary.


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    #4
    midget lord
    Closed Accounts Posts: 956 ✭✭✭midget lord


    which is why you may need to file one if the new shareholder will also be director. In terms of detailing the transfer you should use a B1 at the year end showing the exiting shareholders details, date of transfer etc and the new shareholders details also.


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    #5
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    Originally posted by midget lord
    which is why you may need to file one if the new shareholder will also be director. In terms of detailing the transfer you should use a B1 at the year end showing the exiting shareholders details, date of transfer etc and the new shareholders details also.


    There will be no new shareholder. I will still be a director but will only keep a 1% shareholding. What happens in this situation?


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    #6
    midget lord
    Closed Accounts Posts: 956 ✭✭✭midget lord


    Ok so its a reduction in your shareholding and a transfer to a.n. other shareholder. This needs to be furnished on the B1 at the end of the year with the transfer dates etc. These details will also have to be furnished in the co. accounts, so make sure your accountant knows the score.


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