Phil, as long as there are no arrangements for the cash and receivables of Co A to move from Co B outside the group then it seems to me that there is no mischief here. As a precaution you should do as much as you can to avoid the existence of any arrangments for the striking off of Co A at the time of the buy-back but it looks ok. It would be good to have cleared this with the Stamp Office but you may risk shaking a hornets’ nest by seeking a clearance as they often get the wrong end of the stick and won’t let go.