How old do you need to be to hold shares?

gillybean129

My Mum wants to give her shares to my daughter, she's only 11 is this possibel?

mountainofdebt

I think your daughter won't be able to own the shares in her own right.

However the shares can be held on her behalf by someone over 18.

If your mum wants to transfer the shares, all you need do is to complete a stock transfer form which she should be able to get from the company's registrars.

gillybean129

Many thanks that's useful

anniecave

She can own them in her own right when she is sixteen I think. Or it might be eighteen.

sloth

anniecave wrote:

She can own them in her own right when she is sixteen I think. Or it might be eighteen.

it is eighteen

Kilty_2

What's the reasoning behind that, considering you can work and are eligible for Income Tax/NI in this country at 16?

Not as if it's like getting credit, etc

jonesMUFCforever

But you can't drive until you'r seventeen and drink until you are eighteen - neither of these require credit either.
I think it is to do with the age of majority - being 18 under present statute.

heppy23

Kilty wrote:

What's the reasoning behind that, considering you can work and are eligible for Income Tax/NI in this country at 16?

Not as if it's like getting credit, etc

It does seem daft but I suppose that it is 18 for reasons of being mature enough to run a share of a company?

Kilty_2

So you cant run a share of a company yet you can run a company, after all you can be self employed as long as you can work.