Company Strike Off in Ireland – a quick guide

Company Strike OffCompany strike off in Ireland is the process whereby a company is formerly de-registered from the Register of Companies and Revenue Commissioner. Below we set-out the “why, who, what, where and how” for striking off a company in Ireland:

Why Strike Off in Ireland?

When a company ceases to trade or for a company that has never traded there are three options:

  1. Continue to file annual returns with CRO and Revenue [this has on-going costs and administration – see Dormant Company Accounts
  2. Strike the company off through a voluntary strike off procedure [one-off cost from €99+vat]
  3. Close the company down through a liquidation process

Company strike off is only available to companies with less than €150 in gross assets or gross liabilities. See liquidation services if you have greater assets/liabilities.

Even when a company has ceased to trade or has never traded there is still a requirement to file annual returns with the CRO and Revenue. Failure to do so can result in penalties and other costs. Company strike off in Ireland is common for companies that wish to avoid incurring on-going costs with no intention of on-going trade.

Who needs Strike Off in Ireland?

Company strike off services are required by a wide variety of businesses in Ireland and for a variety of reasons. Strike off is often used by businesses that were set-up to pursue a new venture but for whatever reason the business never traded. Also businesses are set-up under limited liability status only to discover that a sole trader route is more appropriate and more cost effective.

Strike off is not only relevant to businesses that have never traded. Long established businesses also require strike off and at closedforbusiness.ie we have performed company strike off for a business over 100 years old!

What happens during a Company Strike Off?

There is a well defined strike off procedure for companies in Ireland which you can read about here , but can be summarised as:

  1. Bring all returns with CRO and Revenue up to date
  2. Obtain letter of no objection from Revenue
  3. Place advertisement in national daily newspaper
  4. Apply to CRO for voluntary strike off with copies of the newspaper advertisement, letter of no objection and form H15

Where can I get Company Strike Off help?

Striking off a company in Ireland is often handled by accountancy practices and legal firms. Increasingly accountants and legal firms are turning to specialist strike off companies like closedforbusiness.ie who can handle the full strike off procedure at a very competitive rate, mainly because of our familiarity with the process and the significant reductions in advertising costs [saving as much as 73%]. If you need help with striking off a company contact us or your accountant in the first instance.

How should I go about striking off a company in Ireland?

Before going ahead with a company strike off you will need to ensure that the company satisfies the criteria described above under “Why Strike Off in Ireland” – specifically that you have gross assets and gross liabilities of less than €150 or have never traded. Sometimes it may be necessary for any directors’ loans to the company to be written off. If you are in any doubt please contact closedforbusiness.ie or your accountant.

Company Strike OffCompany strike off in Ireland can be very straightforward providing you follow the correct procedure. Always ask for advice before starting down the strike off route – it can save you a lot of time, money, potential fines and there may be other options available to you.

Contact closedforbusiness.ie on 1890 256733 or info@closedforbusiness.ie