How to Request a Share Transfer

This article explains how to request a share transfer or shareholder structure change on the GetGround platform, including how to add new directors and shareholders to a company you already have. It also covers the information you will need to provide and the key legal, tax, and control considerations to review before proceeding.

How to request a share transfer or change

1. Log into your GetGround account and go to the Portfolio page.
2. Scroll to Companies and select the company you wish to update.
3. In the Shareholders section, select Update shareholder structure (also labelled Request a Change on some accounts).
4. Complete the on-screen form: answer the questions and submit the request. You can use it to transfer shares or to add new directors or shareholders to your existing company.
5. GetGround will process the request, and may contact you or other shareholders for additional information. You will receive a confirmation once the change is complete.

Adding directors and shareholders to an existing company

You don't need to set up a new company to bring in new people. You can add directors and shareholders to a company you already have on GetGround, using the same request form. The Legal team will review the new details in the same way as any other change.

What information will I be asked to provide?

• Completion date of the property purchase.
• Whether the property value has changed since completion.
• Whether shares are being gifted or sold.
• The percentage of shares being transferred or allocated to new shareholders.
• Whether any directors will resign or be appointed, and the details of any new directors.
• Whether a departing shareholder has contributed financially to the property purchase and whether there is an outstanding Owner's Loan; if so, the amount and how it will be repaid.
• The relationship between transferring shareholders and recipients (for example spouse, sibling, friend), and between new shareholders and existing ones.

What are the documentation requirements, timings and fees?

• The Legal team will review the submitted information and handle the change request.
• Specific documents required, exact timelines and any fees are determined after review and depend on the details you supply.
• The Legal team may contact you or the new/existing shareholders for further information during the process.

What should I consider before transferring, reallocating or adding shares?

• Tax: We recommend seeking independent tax advice to understand how the change may affect your personal tax position, including potential Capital Gains Tax or Stamp Duty Land Tax implications.
• Control: If a transfer leaves you with less than 50% of shares, consider the impact of becoming a minority shareholder. Minority shareholders typically have limited control over company management and decisions. Adding new directors or shareholders can also change how control is split, so check the percentages before you submit.
• Financial interests: Confirm whether departing shareholders hold Owner's Loans or made contributions to the purchase and agree how these will be repaid.
• Legal, mortgage and compliance issues: The Legal team will advise on any legal, mortgage or compliance implications once they review the submission.

What happens after I submit the request?

• The request will be reviewed and actioned by the Legal team.
• You may be contacted for further information or documents.
• You will receive email confirmation once the share transfer or shareholder change is complete.