- Original Poster
- #1
Hello,
Odd question - got a client who incorporate a company online. For some crazy reason, they allotted 666 £1 shares to themselves, and now obviously I have told them they have to pay up for that share capital.
The company was only incorporated a few weeks ago - I presume they can reduce the share capital issued so they don't have to pay the £666 out? Are there any implication for doing this?
Although I look after clients, I've never seen this issue before!!
Thank,
Julian Hobbs
Accountant
Odd question - got a client who incorporate a company online. For some crazy reason, they allotted 666 £1 shares to themselves, and now obviously I have told them they have to pay up for that share capital.
The company was only incorporated a few weeks ago - I presume they can reduce the share capital issued so they don't have to pay the £666 out? Are there any implication for doing this?
Although I look after clients, I've never seen this issue before!!
Thank,
Julian Hobbs
Accountant
