just filed my companies annual return with companies house and there's a new section that you need to complete for particulars of rights attached to shares.
This is one of the changes coming though from the updated companies act (2006).
I ended up doing a search over on accounting web and the boys and girls over there seem to have come to general agreement (in that this reply didn't get savaged as some of the others did) that for most standard cases the following should be ok :
"All shares issued are non-redeemable and rank equally in terms of (a) voting rights - one vote for each share; (b) rights to participate in all approved dividend distributions for that class of share; and (c) rights to participate in any capital distribution on winding up."
I can't attribute the above to a name as most of the posts on that thread are anonymous.
Hope this helps when your doing your returns or helping out clients,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
