back to the basics

[Max Lucas]

Hello all,

I've recently joined the forum so hello to you all, and to get things started I have an extremely naive question to ask.

I set up a ltd company on companies house a couple of days ago and issued my business partner and I five shares each with a monetary value of £1 each.

It's all been confirmed and registered, but I am wondering now whether that £10 worth of shares needs to be sat somewhere? What do I need to do now?

Thanks for your help

Max

 

[MyAccountantOnline]

Hello all,

I've recently joined the forum so hello to you all, and to get things started I have an extremely naive question to ask.

I set up a ltd company on companies house a couple of days ago and issued my business partner and I five shares each with a monetary value of £1 each.

It's all been confirmed and registered, but I am wondering now whether that £10 worth of shares needs to be sat somewhere? What do I need to do now?

Thanks for your help

Max

Hi Max

Welcome to the forum and congratulations on setting up your new company I do wish you the very best

Yes once you've got the company bank account open you should each pay in £5 for the shares.

 

[MyAccountantOnline]

Max just a thought are you transfering an existing business into the company or is this a completely new venture? My reason for asking is that you may want to look at transfering some goodwill from a former business etc.

 

[Max Lucas]

Hi Max

Welcome to the forum and congratulations on setting up your new company I do wish you the very best

Yes once you've got the company bank account open you should each pay in £5 for the shares.

Excellent, I thought this might be the case. Thanks for all your support, I'm 21 years old so it's my first business venture!

Max

 

[Max Lucas]

It's a completely new venture!

 

[MyAccountantOnline]

Excellent, I thought this might be the case. Thanks for all your support, I'm 21 years old so it's my first business venture!

Max

Oh I wish I was 21 again.....seriously very best of luck to you.

 

[MyAccountantOnline]

It's a completely new venture!

Ah right nothing to look at transfering in then - its just their is a tax advantage which can be gained for someone transfering a business to a limited company.