We have a 2 company group situation , the parent is not trading and has not traded for some years , however it has about £25k in retained earnings.
The subsidiary which is 99% owned by the parent is a property investment company , this company has amassed a substantial amount of retained earnings as it has never paid any dividends .
The question is how to eliminate the parent company, is it possible to amalgamate the 2 companies , if so how ? Where can I get teh information?
Ideally we would want to release the £25K held in the parent.
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You could transfer the properties from the subsidiary to the parent tax-free leaving the sub dormant to be struck off in due course (after paying out all its accumulated reserves as a dividend).
However, it may be advisable to acquire the outstanding 1% first.