Recent content by jpopat

  1. J

    Managing the founding Director

    Hi all A fairly open topic but wanted to hear your thoughts on how best to manage the approach of founding Director. An 'associate' is involved with a business as a director, but the founding director has a hard time separating himself as a private individual and the business as a separate...
  2. J

    Raising capital

    ok that makes - lets assume 20%, not 15%. Another alternative I might consider is issuing subscription warrants for the $60k; are these widely used?
  3. J

    Raising capital

    How would the company have fallen in value? I appreciate we would have to justify why their 20% is worth £60k (for e.g.), and why effectively that values the company at £300k. But I don't follow why the value would have fallen...
  4. J

    Raising capital

    Thanks for the reply qul, some really useful points to consider there. If hypothetically we intend on initiall raising c. £3k from 30,000 shares, and then in 4-6 months need a second round capital raise of c. £60k, for which we may give 20% equity, if we go down the route of doing this by...
  5. J

    Raising capital

    Okay - we will be arranging shareholder agreements without a doubt. I just wondered if there were any other obvious legal implications with cancelling some of the existing shares at nominal value and reissuing to the new shareholders. As we also want to be eligible for SEIS relief for the key...
  6. J

    Raising capital

    Also, when I create the original shares, in this case 30,000 - will Companies House allow me to keep a portion as unallocated?
  7. J

    Raising capital

    That's true, good point re CGT. So aside of having the issue of convincing the investors of the £400k value, I think I have two realistic options: a) issue new shares, to equal a 15% to give to the new investors, but the risk is I dilute the shareholding of existing shareholders (is there a way...
  8. J

    Raising capital

    Okay that's helpful - thank you. Alternatively if I didn't want to dilute the existing share allocation between the original group of known investors, and decided to transfer a % of my own shareholding to the external investors, would there be any other implications? e.g. if I have 60% and...
  9. J

    Raising capital

    Hi all Just a quick question re Ltd company raising equity finance. If I set up a Ltd co with an initial £3k with a small group of friends, issuing 30,000 £0.10 shares, and then subsequently decide to raise a larger amount from external investors; £60k by creating new shares - and I only want...
  10. J

    Dividends on Pref. shares and Corporation Tax

    Perfect, thanks for your help.
  11. J

    Dividends on Pref. shares and Corporation Tax

    Hi all Please can someone clarify if dividends paid out on preference shares are allowable against Corporate tax? I.e. can these distributions be offset against total income? Thanks
  12. J

    Do I need to submit a self assessment return?

    I think we're swaying from the original query; the OP is wondering whether they need to file a self-assessment tax return as a result of their being a director of a recently incorporated company. No other info is provided, therefore is it worth speculating on unknowns?!
  13. J

    Do I need to submit a self assessment return?

    The self-assessment tax return is to declare your personal income, so not directly linked to the fact that you're director of a Ltd Company. If your personal income is from employment with another company, i.e. your income is taxed at source via PAYE, you shouldn't need to complete a tax return...
  14. J

    Parking / Bus Lane / Congestion Charges

    Train and taxi's are generally zero-rated supplies - but which code it goes to on your version of sage depends on how it's set up. for e.g. we use T10 for zero rated, and T11 for exempt. This may not be the case for everyone that uses sage.
  15. J

    Transfer of shares

    Are you the only shareholder? It should be as easy as submitting a form to Companies House to reflect the transfer of shares going from you, to your husband. I'd google 'transfer of shares Companies House', they have loads of guidance on which form needs to be submitted. Once that's done, you...
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