A client trading company (financial services) was voluntarily struck off just under six years ago. The director/shareholder claimed business asset disposal relief (BADR) on the assets of some £300 000.
Some years prior to the liquidation the company had entered into an arrangement with a platform to pass business through. In return shares were allotted to the company although these had no value at the time and it was never expected they would have. The shares were never mentioned during the liquidation process.
Last year the director became aware the shares now had a significant value and that some large dividends had been voted but had not been paid to the company as the platform had no contact details when the payments were bounced back from the bank. The platform was not able to transfer the shares nor dividends to the company shareholders which meant...
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