19 October 2006
Our client owns 51% of a holding company whose major assets are three subsidiary trading companies that turn over in excess of £12 million p.a., generating profits of £1 million p.a. after remuneration and pension contributions. The value of the assets employed in the operating subsidiaries is £3.5 million. In addition to the trading subsidiaries, the company currently owns a small agricultural holding from which the agricultural activity is negligible and this is occupied by one of the directors.
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