Following on from the recent updates over the last couple of months our first update in June allows you to enter non-cash consideration for share transfers, something that we have had several requests for.
This matches the existing ability to enter non-cash consideration for share allotments, to which we have made minor amendments in line with requests from our users.
Also with this change the non-cash consideration will now be shown in the following:
- share transaction view screens
- report of share transactions
- register of allotments
- register of transfers
All of this allows you to easily enter share for share exchanges in Inform Direct.
Use Inform Direct to record your share transactions
Inform Direct makes it easy to process a wide range of share transactions from share allotments and transfers to share capital reductions and purchase of own shares
Transfers for non-cash consideration
Inform Direct now makes it simple to enter the non-cash consideration.
With this change when processing a share transfer you will be able to choose between cash consideration and non-cash consideration. Just choose ‘Fully non-cash consideration’ from the dropdown and then enter the description of the non-cash consideration.
You can also generate the stock transfer form J30 (or J10 if the shares are not fully paid) including the non-cash description and value for tax purposes of the non-cash consideration.
Register of allotments and register of transfers
Both these registers will now include the description of the non-cash consideration.
The company’s records will, therefore, include full details of the actual consideration rather than just an amount.
Similarly the share transaction screens and the share transaction report (one of the reports available in our reports suite) will include the non-cash consideration description where applicable.
Amending consideration for transfers and allotments
You can also change the type of consideration as well as the description of any non-cash consideration using the existing functionality to change the amount payable for share transfers and share allotments.
Let us know any feedback you have
Please do let us have any feedback on this or any other features of Inform Direct and any enhancements that would help you with your company secretarial work.
We continually make improvements to Inform Direct, which you can see on our timeline of updates.
Inform Direct allows you to easily manage the company secretarial work for all of your clients with simple step by step processes and guides to help you.