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Sam, Accountant
Category: Tax
Satisfied Customers: 7544
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I run a ltd company past 18years, I own 33% of ordinary shares in this company. Ca

Customer Question

I run a ltd company for the past 18years, I own 33% of ordinary shares in this company. Can the majority shareholder force the company to close down? The business is a retail business and is renting a unit that belongs to the majority shareholders other company, this has been going on for the past 18 years. He has refused to sign a lease or have a written contract for the rental of this retail unit. The business has done well and generated a healthy profit for all those years. We managed to purchase a property in 2010 with some deposit (money's generated from our profits) and a bank loan, the property is generating income that covers the interest for the loan and more. The majority shareholder is alway trying to avoid the discussion or agreement of a shareholders agreement! I do understand that we should have done it before we started this business, but I do realise that I have made a mistake. Are my rights protected or have I lost everything that I worked for? Thank you.
Submitted: 2 years ago.
Category: Tax
Expert: replied 2 years ago.
Hello and welcome to the site.
Thank you for requesting that I help you with your question.
Your issues are more company law related rather than tax related.
Would you like me to transfer the question to legal experts?
Please advise.
Many thanks.
Customer: replied 2 years ago.


Yes please, If you can transfer the question to your legal experts.

Many thanks.

Expert: replied 2 years ago.
I have requested that this question be transferred to law category.

Many thanks