Business & Finance - 24 July 2007

Hi there

I am taking over a Limited company from my Mum and Dad. It was set up a couple of months ago only.

I want to avoid paying huge accountants fees for what I understand is a straight forward process of change. Would anyone be able to confirm that or shed light on the below:

1) Inform Companies House?
2) Inform HMRC?
3) I was also told that Share Ownership has to be transferred. Is this easy to do myself? If so how? Help!!
4) As my mum/dad didn't take any money from the business - this would not affect their tax position would it?
5) Can I leave my dad as company secretary? This won't have any tax implications would it as he is retired, and would just be a secretary in name only - nothing else/no involvement!


Is there anything else I need to consider?
Help!!

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