Fully paid up share capital
07/04/1988
Query
Can assets be used as payment of shares?
Decision
Yes, provided there is no transfer of trade. However, no BES relief is due (see Section 489 I (b) TCA 1997).
Income Tax
Section 495 (9), Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:4455/88