Hi
I've looked at lots of forums and I'm still not sure on this. What are the postings required when a limited company buys back some of its own shares - in this case two directors retired and the company bought their shares. The accountant doesn't know.
To account for the money coming out of the bank, I did a bank payment and used nominal code 9998 suspense so that is where the transaction now sits. Part of the total is also an invoice for solicitors' advice which I need to post so that the company can claim the VAT so I need to separate that from the money actually used to purchase the shares.
I'd be really grateful for any help. Thanks.
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Limited company buyback of own shares
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brucedenney
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Re: Limited company buyback of own shares
Share capital in normal layout it would be 3000 ish
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