Share buy backs provide a neat, effective solution in a number of circumstances that crop up in private companies, including fall-outs, retirement and death of a shareholder. But failing to follow the Companies Act procedures makes a buy back void, so it’s essential to get it right. This webinar will help you identify the problems that can be solved by a private company buy back and cover the nuts and bolts so you understand the procedures to be followed – and pitfalls to be overcome - to ensure the buy back is lawful and effective.
In this session, David Impey will cover the following:
- Problems solved by a private company share buy back
- Tax treatment overview
- Types of buy back for private companies
- The procedure – nuts and bolts
- Funds you can use, including ‘small cash payments’
- Checking the company’s constitution – do you care what it says?
- Pre-buyback checks, and approving the buy back contract
- Payment potholes and pitfalls and how to avoid them
- Differences between ‘ordinary’ buy backs and employee share scheme buy backs
- Filing at Companies House and other follow-up tasks
By attending this session you will be better equipped to advise your private company clients when a share buy back is appropriate, and how to carry it out lawfully.
As well as specialising in company law, David also works with law firms and other law businesses, helping them with strategy, with commoditisation ('packaging') of their services, and with legal content for use online in their blogs, Tweets, websites and e-newsletters.
From 2008 to 2014, he led and worked on a major project for the UK Intellectual Property Office, through Atom Content Marketing (formerly BHP), building and developing an online IP HealthCheck resource that helps small and medium-sized businesses to identify, protect and commercially exploit their intellectual property.