TRCN1 Form Question

Fukuyama

Hi Guys,
I recently filled in a TRCN1 form to close my sole trader business and sent it into the Revenue.

Should I hear back from them informing me of he successful processing of this form?

How long will it take?

Any replies would be much appreciated

Thanks very much!:D
-D

Legend100

If you were vat registered then I know you will get a letter back reminding you that any vat on debtors is now payable if you were accounting for vat on a cash receipts basis. Other than that, I'm not too sure if you will receive a response.

The length of time will entirely depend on your region and could be anywhere from a week to over a month. Impossible to give a definitive answer there.

hope that helps somewhat

crazzzzy

Yes, you will get letter from them. Not sure how long though but I expect you should have it within 6 weeks

steveryan

Are there tax implications on the field marked assets and equipment? You're not taxed on the assets you have left are you?