Key Post How to wind up a company which no longer trades

MandaC

Frequent Poster
Messages
1,784
I would urge anyone who is not using their limited company to seek a voluntary strike off.

The procedure is as follows:

(1) Write to the Revenue Commissioners seeking a letter of no objection. All returns will need to be lodged with the Revenue Commissioners before this date or they will not issue the letter of no objection
(2) All outstanding CRO annual returns need to be filed.

(2) The directors need to sign a letter stating that the company has no assets or liabilities.
(3) An advertisement needs to be drafted in a daily newspaper (legal notice) stating that the company wishes to be struck off voluntarily. I use the sun or the mirror (classy I know) They charge approx. €180 plus VAT as opposed to the Examiner, who I used to use at approx €500 plus VAT.

The letter of no objection, statement of no assets or liabilities and newspaper advertisement needs to be lodged with the CRO within four weeks of the placing of the newspaper advertisement.

The CRO will then issue a notice to the registered address of the company saying the strike off will proceed (within three months) or why they will not allow the voluntary strike off.

Who ever has a company that has been struck off to date, there is nothing that can be done at this stage (unless of course, the company needs to be restored) very expensive!!! What I feel that will happen however is that the CRO will have a cut off point and target these companies/directors more aggressively.

If you never intend being a director, then they will probably never prosecute, but it may have implications if a person were to set up in business again at a future date.

It is always more advisable to finalise the whole thing cleanly. The most expensive part to finalising the company is to pay the accountant for the set of accounts which need to accompany each B1.

The above is the procedure for strike off from a Companies Registration point of view. Just because a company is dissolved from a CRO point of view, does not mean that any debts owed to the Revenue Commissioners for the period that the company traded will not be pursued. They will, and interest and penalties will almost certainly be imposed.

For those who have companies that have been struck off and have ceased trading/never traded and have lodged their returns with Revenue from when they have traded I would advise them to write to the Revenue if they have not already done so and de-register (if they have a tax number for VAT, PAYE or Corporation Tax) from the date of cessation of trade. In the case where the company never traded, the Revenue still should be advised that the company never traded and de-registration is sought. They make still request that some of the forms sent to you be returned as zero or they may not. It will stop pointless VAT3's, CT demands and P.30's being issued.

Hope this helps

MandaC
 

Brendan Burgess

Founder
Messages
38,451
I saw this advertised in Accountancy Ireland. I am surprised that I had not heard of it before given that it seems cheap and has good testimonials on its site.

http://www.mystrikeoff.ie

Has anyone used the service?

They don't say who is behind it on the website.
 

PaddyBloggit

Frequent Poster
Messages
3,354
Domain is registered to TAX-EASE ACCOUNTANCY SERVICES LIMITED and the contact person is a David O'Doherty.
 

jack2009

Frequent Poster
Messages
754
Hi Mandyc,

How can a company that has struck off have outstanding tax returns does the company not have to be up to date before a company can issue a letter of no objection. Furthermore, if the company is struck off in what capacity will the person signing the returns have.
 
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mystrikeoff

Registered User
Messages
24
Hi there

David O'Doherty here. Many thanks for the kind comments above.

Although, MandaC's post is very detailed, if anyone has any queries on the strike-off process, I'm more than happy to help. Post a thread or PM me.
 
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