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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 either form SH02, SH03 or SH06 will be available to download for signing and sending to Companies House.

 

Will Kudocs automatically update Companies House on a cancellation of share capital? No. Action is required to notify Companies House as Companies House does not currently allow electronic filing following a reduction, redemption or buy back of shares. Kudocs will generate the form, which should be downloaded, signed at the relevant section and sent to: The Registrar of Companies, Companies House, Crown Way, Cardiff, Wales, CF14 3UZ.

 

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Kudocs is an authorised Companies House agent