Changing a shareholder's beneficial status

You can change a shareholder's beneficial status online. You must have registered for online access and use your account details to log in. If you haven't registered for online access, see our online services page.

You must notify us within 28 days when a shareholder's beneficial status changes.

What is a shareholder's beneficial status?

'Beneficially held' means that the owner of the shares gets the direct benefit from the shares. Direct benefits include dividend payments.

If the shareholder is not holding the shares on behalf of another person, organisation or trust, the shares are beneficially held. Answer 'Y' the shares are beneficially held.

If the shareholder is holding the shares on behalf of another person, organisation or trust, they are not beneficially held. Answer 'N' the shares are not beneficially held.

How to change a shareholder's beneficial status

Step 1 - After you log in, select 'Start new form' from the left hand menu

Step 2 - Select 'Change to company details' (484) from the list of forms

Step 3 - Select 'Change to members' register'

Step 4 - Select the type of change you are making to the member register

To make changes to an existing shareholder's shareholding, select 'Change' next to their name.

Enter the changes to the shareholder's shareholding.

If the only change is to the shareholder's beneficial status you will need to 'cease' and re-add the shareholder. If the shareholder has other shares, you will need to re-add the shareholding. To do so:

  • Select 'Change' next to the shareholder's name
  • Select 'Cease' next to the shareholding you need to change the beneficial status against
  • Select 'Next' to confirm
  • Select 'Add a new member to the register' (if this is their only shareholding) or 'Add a new holding for this member'(if they have more than one shareholding)
  • Enter the shareholder's details
  • Enter the shareholder's holding details
  • Once complete, select 'Next.

Step 5 - Review the changes and complete the declaration to submit your transaction

After you've reviewed all information and made sure it's correct, select 'Next'. Then complete the declaration and select 'Submit'.

For more information on updating your company details, see Company officeholders help.

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Last updated: 19/07/2017 08:45