NCD - cessation of trade

NCD - cessation of trade

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A company pays a dividend in Oct 05 ( year end 31st Dec)£15k. Profits are £10k so £5 is carried forward.
Company ceases trading on 31st December and subsequently get company removed from register and distribute remaining cash to shareholders (having first obtained I R approval). What happens to the surplus £5k? As far as I know it cant be carried back so does it just die?
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By deanshepherd
22nd Dec 2005 12:05


Yep..
NCDs on cessation just disburse into the ether..

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