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Loan or was it shares?

I paid money into a company which was intended to be share capital. Indeed I have a letter from an accountant in respect of this. However shares were never issued and when the company went bankrupt the money was on the books as a debt or should I say loan. I assume there is a time lag between the advance of money and the issuing of shares. However in this case it was around 8 months between putting the money in and the company going down.

Deadlines are looming for a claim and what are the thoughts here - of getting tax relief on the loss of share capital through negligible share relief.

Any thoughts here would be appreciated.

Reply to
Fred
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What evidence do you have?

Have you got any documentation from the company?

Reply to
Peter Saxton

Thanks for your reply.

The only documentation is a letter from the accountant which clearly states that the money is for a number of shares and also who is putting this money in. All the minutes of any board meetings are stored with the liquidators and not readily accessible. Hope this helps.

Reply to
Fred

If you have no documentation from the company I think you will have to rely on the liquidators.

Reply to
Peter Saxton

What documentation would I require? Just that I felt a credible accountant's letter would have been an independent source of intent/reason for writing out a cheque to the company.

Reply to
Fred

Minutes that mention a share issue.

You may be able to argue the case but it can take a long time to get answers out of HMR&C.

Reply to
Peter Saxton

Many thanks - I'll do some digging.

Reply to
Fred

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