We have a private limited UK company with 100% share ownership and also I have a Dubai company. now i want to sell or transfer shares of UK company to UAE company, basically Dubai company will be the parent company and UK company will be Subsidiary.
1- How do i do this
2- is it Accountants job or a solicitor
3- do UK company still pay the same tax
This is what’s termed as a share for share exchange (you are transferring your shares to the Dubai company in return for shares in it, albeit you already hold them). Like with most transactions you would normally get tax advice first and then a lawyer to put all relevant contractual documentation together (in your case a simple agreement, board minutes and a stock transfer form). Some lawyers can cover both areas. If the business operated by the UK company and the individuals who run it are still based in the UK then the UK company remains liable for tax in the UK as before.
Where certain conditions are satisfied, the share exchange is treated as a form of re-organisation for tax purposes and no capital gains tax charge is triggered for the seller at the time the share sale is completed (because the selling shareholder retains an interest in the company indirectly through their interest in the purchasing company) in the company sold.