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HMRC internal manual

Bona Vacantia Guidance

From
HM Revenue & Customs
Updated
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Bona Vacantia: Discretionary grants from TSol

Normally, if former members of the company wish to make a claim for bona vacantia of a company which has been dissolved, they will need to have the company restored to the Register before the BV recipient can consider the claim.

At this point, if HMRC is aware that the company has been restored, any unresolved taxation matters can be reopened with the company. However, this ‘window’ will be short and unless an objection is raised with the Companies House, once the payment has been made by the BV recipient, the norm will be for the company to be dissolved again.

Where the amount of bona vacantia claimed is small, the cost of restoring a company may be out of proportion to the amount claimed.

In theses circumstances the claimants may be able to utilize an alternative option if the BV recipient is the Treasury Solicitor (‘TSol’). TSol will be the BV recipient if the registered office of the company was in England or Wales (but not in Cornwall or the Duchy of Lancaster). In such cases, TSol may make a discretionary grant of up to £3,000 to the former members without the need for the company to be restored.