FTSE 100 Group
Company overview
- Approx 125 UK subsidiaires
- Each subsidiary costing approx £5,000pa in compliance costs
- Company listed in London and Johannesburg
The challenge
- Group wanted to reduce costs
- Group wanted to reduce number of companies that had to be disclosed to LSE and JSE
Moorfields Action
- Prepared methodology for client’s legal, accounting and tax teams to use to identify companies to be liquidated
- Liquidated companies in batches of five
The result
- Reduced number of legal entities
- Lower annual compliance costs