MiWeb 3.0

As from 6 April, if a company with positive distributable profits makes a distribution in kind to its members, then the amount of the distribution will be calculated by reference to the book value of the asset.   If the transfer is at book value or higher, the amount of the distribution is zero.  If the transfer is at less than book value, then the distribution is the shortfall between the two (and the company must have enough distributable profits to cover that shortfall).