Just one will do
Article Abstract:
The newly enacted Companies (Single Member Private Limited Companies) Regulations 1992 (SI 1992/1699) allow companies to have only one member. In the past it was required that firms have a mimumum number of two members so that sole proprietors were compelled to create an 'artificial' member, usually by providing a spouse or a partner with a nominee share in the company. The new Regulations, effective as of Jul 15, 1992, also modified certain portions of company law in consideration of single-member companies. In addition, they applied Council Directive No 89/667/EEC to single-member private limited liability companies. The new rules are applicable to private companies limited by shares or guarantees, but not to public limited companies and unlimited companies.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1993
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Share valuation: hypothesis and reality
Article Abstract:
The UK tax regulations require that holdings of unquoted shares should be valued at their current open market price. The Inland Revenue Shares Valuation Division uses Stock Exchange data for the valuation on the grounds that the quoted market represents an open market and provides the same information a hypothetical potential buyer would have. Within one industry, the level of dividend cover for an unquoted company should be two or three times that of a quoted company. Asset backing is used as the basis for property and investment company holdings valuation.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988
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