closing a company

[Blackhorse B]

Hi,

can anyone advise on how much hassle is involved with sutting down a company. it will be a voluntary liquidation so does it mean i will have a liquidator appointed to examine all the books etc before its shut down?

thanks

 

[Graham_07]

When you say voluntary liquidation I assume that you mean a solvent liquidation where all creditors have been or will be paid in full.

In that case, as in other liquidations, a liquidator is appointed to carry out the work.

The "hassle" is largely handled by the liquidator, after all that's what they are being paid for.

Obviously there will be some liaising between the liquidator and the directors and you will need to have all relevant books and records available and up to date.

 

[Niall M]

If the company has ceased to trade and has no assets or liabilities, one can request a strike off from the companies office. It requires getting a letter of no objection from revenue, statement from directors, and an ad in a national newspaper.

 

[podowd]

if there's no creditors and company has ceased to trade the voluntary strike-off is the way to go, something that you can do easily yourself, and the only cost is the ad in the paper, see the cro for further details

http://www.cro.ie/en/business-termination-voluntary.aspx

Regards

podowd
www.prima.ie

 

[SNOWBALL]

hi

i recently did that you must have all your relevant form for the tax filled in.I had a friend who most of the form filling for me but i did the bit like putting the advertisment in the papermyself.you have to send this in to the cro office aswell.it is a bit of hassel but make sure you do it right

 

[ubiquitous]

make sure you do it right

If you don't do it right, you may end up paying for 2 newspaper ads. The ad can only be used for a strikeoff application within 28 days of publication, so if your application is rejected by the CRO, you will face a race against time to resubmit before the 28 days are up.

 

[MandaC]

Totally agree about the newspaper ads.

I had a few dissolutions on the go last year. I had written off to the Revenue to get the Revenue clearance letter. One of my nice "helpful" colleagues decided in their wisdom to help me and stuck all the newspaper ads in. When I came back, no clearance letters because a couple of the companies had old returns outstanding. So ads ended up having to be replaced. Cheapest papers I find to place the ads are the Sun or the Mirror. We used to use the Examiner for our ads, but very expensive.

Do not place the newspaper ad until everything else is in place and get it into CRO straight away in case there is a problem with the paperwork.

Its all very well saying its easy, and it really is, it is to me because I do it on a daily basis, but like everything else, if you dont know what you are doing, it may end up costing you.