Letter of No Objection

[thebusiness]

Hi Folks,

Just in the process of winding up my company (things didn't work out).

We are going through the voluntary strike off process. Does anyone know what the revenue comms look for or need before they issue a letter of no objection. I just want to make sure I have all our accounts etc in order. We may have a small vat liability from a couple of years back.

Thanks

TB

 

[ClubMan]

Anything useful here?

 

[Graham_07]

Generally the Revenue would be looking at any returns which ought to have been filed and any amounts due to them. Voluntary strike off only works where there are no assets or outstanding liabilities. It is, as you probably know, one of the conditions to qualify for voluntary strike off. Revenue are unlikely to agree if there are undischarged liabilities to them. However this also depends on your definition of a "small liability". If it is small, why was it not discharged? If it cannot be discharged due to lack of funds then it is not small. I find Revenue usually quite easy to deal with on the letter of no objection once all revenue returns have been filed and all liabilities discharged.

 

[MandaC]

Revenue will not issue the letter of no objection even if there is a NIL return due. All returns should be up to date. You are probably aware, but just to point out, do not place your newspaper ad until you are in receipt of the no objection letter from Revenue, as this can be the slowest part to get.

As Graham already pointed out, Voluntary Strike Off only works where there are no assets or liabilities. Also, your CRO filings must be up to date too.