Page 30 - P6 Slide Taxation - Lecture Day 6 - Groups, Interest And Practice Questions
P. 30
Liquidation, winding-up or
deregistration: Section 47
• All assets must be disposed of in the course of
liquidation (they have 36 months to liquidate the
company).
• The liquidating company may retain assets to
settle anticipated liabilities, including costs of
administration to liquidate the company.
• After all the assets are disposed of to the Holding
company, any distribution to the Holding
company of remaining reserves must be classified
as comprising of either a dividend or return of
capital.
30
