closing down my company

R

rupert7

Registered User
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I'm looking to close my company that ceased trading in may 2011. All 2010 accounts have been filed.
I have got conflicting advise on how to do this.
The advise I got from another accountant is that I do not need to file 2011 returns and if the company has no assets or liabilities, or monies being owed to the directors, a voluntary strike off may be possible.

my accountant tells me that i DO have to file 2011 returns.

Can anyone tell me who is correct?
 
I assume from what you say that your company's tax year is as per the actual year i.e. 1 Jan -31 Dec. If you traded in the first five months of the next accounting year then you should file accounts.


In any case by getting your accounts right up-to-date and filing them it makes the liquidators job much easier.

I've just gone thru a members voluntary liquidation of my company . I made it clear to liquidators that i asked for a quote that everything was hunky-dorey- I showed them proper audited accounts right-up-to-date and filed at CRO. All a liquidator had to do was a few form fillings .

Actually you can do these yourselves but if you can get a liquidator to do it for 2.000 euros then it saves potential mistakes.

I repeat, I assume this is a voluntary liquidation of a solvent company.

If the company has no assets or debts whatsoever you don't even have to go through a liquidation - just get "a strike-off" arranged. Cost a few hundred. Lots of websites about it.

But again, your accounts should be up-to-date.
 
oldnick said:
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If the company has no assets or debts whatsoever you don't even have to go through a liquidation - just get "a strike-off" arranged. Cost a few hundred. Lots of websites about it.

But again, your accounts should be up-to-date.
Click to expand...

thanks a mil oldnick, yes there are no assets or debts, its a very small scale operation.
is it possible to do the strike-off yourself through the CRO without going through those websites?
 
You need to file the CT1 to the date of cessation.

If you have not filed a H15 with the relevant documentation prior to the companies ARD then you have to file a B1 with the appropriate accounts or a B1 with a B73 and then get the H15 in before the next ARD.

If the company has no assets or liabilities then the H15 needs to be accompanied by the ad & letter of no objection from Revenue. Your accountant or indeed yourself can do this its straight forward.
 
It sounds like you have to decide on whether to do a strike off or liquidate. If you do a strike off you will have to bring all returns up to date and get tax clearance. However, if you do a liquidation you do not have to bring CRO returns up to date and liquidator will take care of tax clearance.

From experience liquidating the company brings everything to a finite end and although more expensive than strike off itself. The liquidation saves you from having an audit and includes tax work etc.

Best of luck
 
If the company has no assets or liabilities you need to file your tax returns to date and also any outstanding CRO forms. Then log onto mystrikeoff.ie who will arrange a strike off of the company at a very reasonable cost - I have no connection with the company but have recommended many of my clients to use their services. No liquidation needed as there is nothing to liquidate. The strike off is every bit as legal and there are no loose ends. Very unlikely that the cost of submitting the outstanding returns will exceed any liquidation costs. If they do shop around for a better price to complete the returns.
 

mystrikeoff.ie say there are three steps
- Obtain a letter of no objection from Revenue;
- Advertise the strike-off in a daily newspaper published and circulated nationwide; and
- Send a director’s request to the CRO.

Can i not do all that myself?
Do i need to involve a third party?
 
No problem doing it yourself - mystrikeoff do have competitive rates for the adverts though
 
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