Share capital – cancellation
How do I cancel share capital? To cancel share capital the required legal processes must be completed offline. Each of these processes can have potentially significant legal and tax consequences, and if not properly completed may be void. The company should seek appropriate professional advice before proceeding. Use Kudocs to record and implement the changes (i.e. update shareholdings, issue new share certificates and generate forms to notify Companies House).
How do I use Kudocs to record and implement the cancellation of share capital? In all actions, select {cancel share capital}. Select the type of cancellation (reduction, redemption or buy buy) and share class from the dropdown lists. Select {next step} to confirm and enter details of the cancellation. Review the cancellation, enter date and add supporting documents. If necessary, Kudocs will generate new share certificates.
Once confirmed, the cancellation will be registered by Kudocs and Kudocs will generate the relevant forms to be filed at Companies House (SH02, SH03, SH06 and/or SH19).
Will Kudocs automatically update Companies House on a cancellation of share capital? Not at the moment – unfortunately. Companies House does not – yet – support electronic filing of the relevant forms (SH02, SH03, SH06 and/or SH19).
Kudocs will still help you. The system will generate the form(s) fully completed for you as pdfs, so they can be easily downloaded, signed and uploaded directly at Companies House or posted to: The Registrar of Companies, Companies House, Crown Way, Cardiff, Wales, CF14 3UZ.