Buying shares from an outside shareholder

[belfry]

I have agreed a price to buy some shares in a business (that I own 70% of) from an outside shareholder. He is no longer connected with the business, having left 6 years ago.

How straightforward is the share transfer please? Can I download the forms from somewhere? How does the deal work (ie at what stage do I send the bank transfer for the agreed consideration)? Anything else to consider?

I would like to make the sale as easy as possible for the shareholder so I anticipate providing the paperwork.

Many thanks

Bert

[DavidJJ]

In terms of process believe you'd need a Stock Transfer Form;

https://www.gov.uk/guidance/stamp-duty-on-shares

Timing of exchanging the money I assume you'd want to tie in with when the transfer settles on the register of members, but not something I know too much about.

[belfry]

Is this normally the responsibility of the seller or the buyer?

[PugwasHDJ80]

What you should do is use a corporate lawyer- as its just too easy to make a mistake and for it all to go wrong!

What sort of value are you talking? 10k, 100k? 1m? 10m?

who is buying the share- you personally or the business by doing a share buy back? the latter can be more tax advantageous if the cash is sitting in the ltd co, but it needs revenue clearance.