BVG1020 - Bona Vacantia: Meaning of ‘bona vacantia’
‘Bona vacantia’ is a Latin term that means ‘ownerless goods’.
By law, bona vacantia goes to the Crown via the appropriate recipient body [see BVG1040] .
In particular, under company law, rights and property of a company which has been dissolved are bona vacantia.
That includes the right to a tax refund from HMRC.
If the company had no right to a tax refund - for example, because its claim was fraudulent - then its alleged right did not exist and is therefore not ‘bona vacantia’.
You will find background information about bona vacantia on the internet.