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Further to a previous Q. Director A owned 55% of shares from date of incorporation in 2004 Directors B 45%.(100 nominal) In 2006 and in 2008 new shares were issued to both directors and the ratio remained the same 55:45 (nominal 50100). In 2017 Director A bought out Director B and now owns 100%. Now selling 40% of company (20040 shares). For the 10 yr rule , would the fact that the Director owned 55% in 2004 be the acquisition date although its only 55 shares or are the actual number of shares being disposed off looked at in order of acquisition in which case some of the later shares are outside of the 10 yr ownership. Thanks.

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Posted by (Questions: 39, Answers: 23)
Asked on 30 November 2018 12:00 pm
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