UK Company buying back shares at > market value

A

arthur c.bernard-cribbins

Joined
May 14, 2021
Messages
1
Reaction score
0
Country
United Kingdom
If I own 100% of the shares of a company, and they're a nominal value of £1 each, if the company were to buy back one of its own shares for £10k, theoretically the capital gain (ignoring indexation) is £9999, within the £12k annual allowance, and so I'd be liable for no tax. But is it legal for a close company to buy back shares in this way?
 
You must log in or register to reply here.

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

UK Transfering Money from my Sole Trader to my LTD company 0
Canada Foreign-denominated income from a local company 2
USA Company credit score 1
journal entry in tally for other company employee expenses ? 0
USA Set up a separate company to process overhead 7
UK Working For a Foreign Company whilst Living in UK 0
UK buying a car through a limited companyv - help! 2
USA Company buying shareholder land 0

Top