Japanese quoted company

Company overview

  • Subsidiary of Japanese quoted company.
  • Previously operated a London office on behalf of parent company.
  • Office closed and lease terminated before liquidation.
  • Cash balance of £1.6 million.


The challenge

  • Shareholder wanted cash distributed, but Company did not have distributable reserves.
  • Shareholder wanted company wound up and dissolved.


Moorfields Action

  • Began legal action to recover debt where a debtor attempted to avoid payment and recovered £2,500.
  • Identified rates overcharge not known to client. Secured refund of £60,000.
  • Distributed £1.6 million to shareholder before its year end.
  • Agreed and paid final Corporation Tax liability.
  • De-registered Company for VAT and reclaimed all outstanding VAT.


The result

  • Returned cash to shareholder in accordance with agreed timetable.
  • By identifying unknown assets secured greater than expected return to shareholder.
  • Freed shareholder’s management from having to deal with UK tax issues.
  • Successfully wound up Company.