Assignment of PRS writer share to company

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Pete
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Assignment of PRS writer share to company

Post by Pete » Fri Jun 01, 2018 11:53 am

I'm aware that PRS do not allow any publisher to claim more than 50% of a work.

So what I'm wondering is that if there is a publisher claiming 50%, is it possible for the writer to assign ownership of their oewn 50% share to a limited company that is not a publisher, merely a company that owns that 50% (or would that be construed as "being a publisher" even if they are not a publishing company per se?).

Alternatively camn I assign legal ownership of that 50% writer share to another individual, e.g. my son?

Thank you

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AndyJ
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Re: Assignment of PRS writer share to company

Post by AndyJ » Fri Jun 01, 2018 6:33 pm

Hi Pete,
There's nothing to stop you legally transferring ownership of the other 50% either to a natural person or to a legal person, ie an incorporated company (for instance, for the purpose of tax efficiency). I can't see any reason why this would fall foul of the PRS rules, since this other owner patently wouldn't be a publisher, but a beneficial owner.
Advice or comment provided here is not and does not purport to be legal advice as defined by s.12 of Legal Services Act 2007

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