Corporate Group Restructure

The group had 15 different legal entities in the UK with different intermediate parent companies and in multiple jurisdictions carrying-out overlapping trade. We worked with the client's tax and accounting advisers to plan the different legal steps that were required in order to re-structure the corporate group to ensure that its UK group of companies was well-structured under the same intermediate parent company; merge together the UK entities ensuring no overlap between the activities of its subsidiary companies; and reduce the number of UK entities to reduce the administrative costs. Our multi-disciplinary team advised on the business and asset transfers; pensions and employment law; reductions of capital, declaration of dividends and assignment and repayment of inter-group loans; and share transfers and stamp duty relief applications. Following the reorganisation, the client has a corporate structure that is easier to manage and led to less inter-group competition.