Yes, they are very harsh. I would imagine that larger, operating companies can stem thenm w/o problems. It seems to me that the CRO's hands are also bound by strict Company Law ruling to help out a stupid case like myself.The CRO penalty regime is very harsh on small companies. I got a late filing accepted some years ago for relatively small cost, did all the work myself, got a solicitor to present it to the court. However I understand that it is more difficult nowadays to get a judge to allow late filing.
Yes, this is one of the things I am also worried about. That is why I am considering to wind the company down.You major issue is probably that you will need to present audited accounts for the next 3 years, even though you are not trading this will be costly.
My ARD is today (4th JAN), which means I would have 56 days (1st MAR) until I have to file the next annual returns in audited form.I suggest getting the filing in paying the late fee, then getting the company struck off before next filing is due.
They are somehow acceptable - only this part really makes me worried:As to the consequences of involuntary strike off, see here https://www.cro.ie/en-ie/Termination-Restoration/Company/Involuntary-Strike-Off
There are no creditors involved (no assets, no activity of the company whatsoever, single directorship, and a history of proper annual return paperwork with non-trading status).If there are no creditors involved, those consequences may be acceptable to you.
My understanding is that the ODCE usually only gets involved if asked to do so, by a liquidator or an unhappy creditor. In the case you outline it seems unlikely that they would be interested."There can also be unpleasant consequences for directors of such companies in that a disqualification order may be made against them by the High Court on the application of the Director of Corporate Enforcement."
Does this mean jail time or ruinous fines? If yes, I am screwed. How many directors have been prosecuted in the last years? I am sure that I am not the only company owner that got hammered last year.But for a dormant, non-trading company?
Hi @ouchouch what route did you take in the end? I seem to have found myself in the same pothole as you a number of years later, and am weighting up my best course of actionHi,
I had a particularly bad year (unemployed, depression, relationship went belly up) - and I totally forgot to file the annual return for my company that is registered in Ireland. The company has never traded and is not trading, but I am not sure if I can stem the late filing fees and strike the company off in proper fashion: They are around 100 EUR + 606 EUR ~= 750 EUR for the late B1 filing. I always kept the company because I thought I might do something with it, and because the dissolution was more expensive than actually keeping now. But now... well... this came back to bite me.
I do not have the money to get support from a laywer in order to apply for late filing in district court.
I actually can not afford to pay the late filing fees plus the regular company strike off fees.
Any advice? How bad is it to let the get an involuntary strike off in Ireland? Please note that the company was always in good standing when it come to paperwork... until 2021
Many thanks!
Hi @ouchouch what route did you take in the end? I seem to have found myself in the same pothole as you a number of years later, and am weighting up my best course of action
Thanks a mill
It certainly was the case a few years ago that legal representation was a necessary prerequisite to a District Court application. Perhaps things have changed in the meantime.The District Court is a viable option and you can do that yourself and ask for help at the Court.
Terrible advice.Second if you have no use for the company let it wither on the vine and ignore all the threats from CRO.
If a company is inactive, its CT and other tax registrations should be deactivated.Do keep CT returns up to date.
Second if you have no use for the company let it wither on the vine and ignore all the threats from CRO
The unfortunate man said he had no money - this is an option that is used if a company has not traded which is what he says. Otherwise the CRO would have a court list of their own.Terrible advice.
Fair enough. I read it more as a general statement which was probably my mistake.The unfortunate man said he had no money - this is an option that is used if a company has not traded which is what he says. Otherwise the CRO would have a court list of their own.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?