Is it possible for a Ltd company to pause trading in Ireland ?

[seamless]

I have a Ltd company which since Covid has done very little turnover. However there is a possibility that I might revitalise it in several years time.

Is it possible to legally pause trading activity in some manner and not have to file annual accounts etc ?

Thanks,

 

[jpd]

Why is it a problem to file annual accounts?

 

[seamless]

To avoid the cost of it primarily.

 

[ClubMan]

Exemptions from filing annual accounts seem limited?

CRO - Annual Return - Filing Exemption

Annual Return and the Exemption from Filing Accounts

www.cro.ie

 

[RedOnion]

Is it possible to legally pause trading activity in some manner and not have to file annual accounts etc ?

Not in Ireland. If you do Google searches you might be misguided by the practice in UK.

You can apply for dormant status, but you still have to make annual returns to CRO, hold an AGM, etc. The only thing you really avoid is completing tax returns, in specific scenarios (no trading at all, and balance sheet under 500 euro).

Unless you've a specific purpose in mind in the foreseeable future, you might be better off winding up the company. If you miss annual filings, or other compliance items, you could lose audit exemption.