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Closing down a LTD company

  • 19-06-2009 1:22pm
    #1
    deepriver
    Registered Users, Registered Users 2 Posts: 346 ✭✭


    Hi

    Looking for information on the process for closing down a limited company with the CRO

    how documentation heavy is the process & how much does it cost & what is the process if directors (x2) are in dispute and cant file a B1?

    if anyone can share experiences - thanks


Comments

  • #2
    honeymonster
    Registered Users, Registered Users 2 Posts: 601 ✭✭✭honeymonster


    I was looking into this a while ago. I recall you have to have an ad placed in the paper stating that your firm is closing and I think you have to get a letter from the revenue stating you dont owe them any money.

    I think it could be tricky if you dont file your B1. If your B1 isnt filed your company will be stuck off anyway. But it might cause you problems if you decide to be a director again.

    There loads of info here http://www.cro.ie/en/business-termination-members.aspx

    Also give the cro a call I have found them very helpful


  • #3
    deepriver
    Registered Users, Registered Users 2 Posts: 346 ✭✭deepriver


    thanks -

    yes it seems fairly straightforward with no hidden costs or pitfalls, not sure how much an advert in a national paper is but it couldnt be more than a couple of hundred euro

    only obstacle seems to be the B1 which if isnt returned results in fines, possible court appearance, involuntary strike off and legal costs, but apparrently you get plenty of notice warnings and a siginificant period of time in which to make it


  • #4
    lanternman
    Closed Accounts Posts: 29 ✭lanternman


    If you wind the company up as a members voluntary liquidation there is no need to file a B1.

    However, a special resolution is required to be passed by the members of the company. Also, all or the majority of the directors must sign a Declaration of Solvency.

    Questions, is the director in question also a shareholder (if so how much)?

    Can you appoint another director so that you have 3?


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