Winding up Ltd company

[States]

I am thinking of winding up a ltd company I set up for contract work I've been doing for the last number of years. I've found a full time employee role with a company and will no longer need my limited company.

I have some outstanding liabilities with Revenue for 2008 income tax unpaid for the sole employee of the company (i.e. me). How will Revenue view this in the wind up process?

Also, the company has been paying into a pension fund - what happens to that if I wind up?


Thanks in advance for your help

 

[Bill Struth]

Revenue won't issue a letter of no objection if you have outstanding liabilities to them, which you need for the voluntary strike off application to the CRO.

 

[jack2009]

With liabilities outstanding the only way to put the company to be will be to have it would up as a Creditors voluntary Liquidation.

The pension fund will remain in existence and the funds transferred over to new pension fund or just sit in a trust until retirement age. However, in some cases if the employees have not made contributions for more than two years the employee can elect a refudn of their contributions and the company in liquidation gets the employers portion.