Company strike-off in Ireland is the process whereby a company
- with very small assets and liabilities [not exceeding €150 gross ] ceases to trade
- company that has never traded
is de-registered from the Register of Companies and with the Revenue Commissioner. Just because a company has ceased to trade or has never traded does not mean it is no longer required to file annual returns with the CRO and tax returns with Revenue [unless already de-registered].
If a company has ceased to trade and has no plans to trade in the future it is advisable to have the company struck off. In certain circumstances this may require any directors’ loans to be written off when striking off a company
[If a company has ceased to trade but you wish to keep the company alive, please see Dormant Company Accounts.]
Striking Off a Company
Striking-off a company in Ireland is a well defined procedure and requires the following steps to be following for a successful company strike-off:
- The company is de-registered under all tax headings from the date the company ceased to trade [if not already done so]
- All tax returns to Revenue and annual returns with CRO are brought up to date and any resultant fees or penalties are settled in advance of commencing the company strike off
- A letter of no objection is obtained from the revenue commissioners
- An advertisement is placed in a national daily newspaper in Ireland giving notification of the company strike-off from the register of companies
- A director of the company applies to the CRO – along with an original copy of the advert and the letter of no objection from Revenue – requesting the striking-off of the company from the register of companies in Ireland
It is important when striking off a company in Ireland that the correct sequence of events is followed and that the correct wording is used when appropriate. If in doubt, please check with a professional Company Strike-Off service in advance.
At closedforbusiness.ie we offer a very cost effective company strike-off service for €199 inc vat and the cost of the advertisement in the national newspaper. The cost of placing a strike-off advertisement alone can run into hundreds of euro’s, so this really is exceptional value.
When striking-off a company we will also obtain a letter of no obligation from Revenue and make the directors’ request to CRO as part of our strike-off service. If you need assistance in bringing your returns up to date with revenue and CRO we can help there also.
The potential consequences for not striking-off a company correctly can be punitive and should be avoided. If you are considering a Company Strike Off and need further advice please contact us in confidence on 1890 256733 and we will be happy to assist.