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Ceased trading , want to start again

  • 20-01-2010 5:06pm
    #1
    KTRIC
    Closed Accounts Posts: 9,348 ✭✭✭


    I ceased trading with my limited company at the end of 2008. Since then I worked abroad and now since I'm back I would like to work for myself again.

    Does anyone know if its just as easy to start trading again as it would be to start a new company ?


    I want to try and avoid the paper work and costs involved if possible.


Comments

  • #2
    hinault
    Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    KTRIC wrote: »
    I ceased trading with my limited company at the end of 2008. Since then I worked abroad and now since I'm back I would like to work for myself again.

    Does anyone know if its just as easy to start trading again as it would be to start a new company ?


    I want to try and avoid the paper work and costs involved if possible.

    Did you file CRO returns for 2008?
    And 2009?


  • #3
    KTRIC
    Closed Accounts Posts: 9,348 ✭✭✭KTRIC


    hinault wrote: »
    Did you file CRO returns for 2008?
    And 2009?

    Just for 2008, no need for 2009 as I wasn't trading then.


  • #4
    hinault
    Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    KTRIC wrote: »
    Just for 2008, no need for 2009 as I wasn't trading then.

    There is no reason why you cannot commence trading again at any stage.

    Did you communicate the fact to the CRO that you did not trade during 2009?
    If you have communicated the fact that you did not trade in 2009, you should contact the CRO to inform them that you intend to trade in 2010.


  • #5
    KTRIC
    Closed Accounts Posts: 9,348 ✭✭✭KTRIC


    hinault wrote: »
    There is no reason why you cannot commence trading again at any stage.

    Did you communicate the fact to the CRO that you did not trade during 2009?
    If you have communicated the fact that you did not trade in 2009, you should contact the CRO to inform them that you intend to trade in 2010.

    Well my accountant did, it was confirmed by the CRO as well.


  • #6
    hinault
    Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    KTRIC wrote: »
    Well my accountant did, it was confirmed by the CRO as well.

    That's fine then.

    The only thing that you need to do then is to phone the CRO and tell them that you're intent on trading in 2010.
    Ask them do you need to do anything to confirm that you've re-commenced trading.
    ( I think you will need to complete a CRO form confirming that you have re-commenced trading but I can't recall the form number)

    The CRO will be aware in 2011, that you traded in 2010, because you will make your 2010 Returns in 2011.
    However, you don't want to leave it until 2011 to inform the CRO that you traded in 2010.

    You should also inform the Revenue that you're trading again : so that they're also aware of your changed circumstances.


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  • #7
    kenbrady
    Closed Accounts Posts: 404 ✭✭kenbrady


    KTRIC wrote: »
    Just for 2008, no need for 2009 as I wasn't trading then.
    You still have to file cro returns even if you are not trading.


  • #8
    hinault
    Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    B1 (Annual Return) has to be filed for 2009 : whether KTRIC's company was trading or non-trading in 2009.


  • #9
    KTRIC
    Closed Accounts Posts: 9,348 ✭✭✭KTRIC


    kenbrady wrote: »
    You still have to file cro returns even if you are not trading.

    Why on earth would I have submit a return for a company that ceased trading ?


  • #10
    hinault
    Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    KTRIC wrote: »
    Why on earth would I have submit a return for a company that ceased trading ?

    B1 Form (Annual Return form) states that all companies, whether trading or non-trading, must submit a return before 2009 ARD (annual return date).

    talk to your accountant and ask him to make 2009 Return on your behalf.


  • #11
    KTRIC
    Closed Accounts Posts: 9,348 ✭✭✭KTRIC


    I got a voluntary strike off, should have meantioned that.


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  • #12
    hinault
    Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    KTRIC wrote: »
    I got a voluntary strike off, should have meantioned that.

    Kinda helps to furnish the full facts if you're looking for advice.
    Eh?

    You need to submit a H1 form.

    Instead of our wasting time providing vague outlines regarding your circumstances - contact the CRO and talk it through with them.


  • #13
    thecleverone
    Closed Accounts Posts: 337 ✭✭thecleverone


    If you had the company voluntarily struck off you have a couple of options:

    (1) Have the company re-instated.

    (a) This is easy if you have been struck off / dissolved for less than 12 months. All that's involved is filing a H1 form with CRO and ensuring everything filed is up to date.

    (b) If the company is struck off / dissolved for more than 12 months then unfortunately a high court order is needed to re-instate the company. You'd need to talk to your solicitor about doing this but it'd be pretty costly considering you'll have solicitor and barrister fee's to pay.

    (2) Set up a new company

    (a) This takes about a week if you use a registered company formation agency and you can be trading in no time.

    (b) Be aware of the fact that if you decide to go down the route of setting up a new company instead of re-instating the old one, you will not be able to use the old company name. Company names of struck off / dissolved companies are protected on the register for 20 years in case a company wishes to re-instate. They won't allow a previous director to register the same company name or a similar name even if they see that it's the same person involved in the dissolved company / new company.

    Please note that the above advice relates to limited companies only. There are different methods and procedures for sole traders and partnerships.


  • #14
    CompanyBureau
    Registered Users, Registered Users 2 Posts: 93 ✭✭CompanyBureau


    Clever one is bang on - Only thing I would add is that if you want to use the old company name you could register it as a trading name under a new generic company name. If you really want the old name and it's dissolved less than a year you could do it this way, but if the company is dissolved more than 1 year you are looking at EUR4500 minimum for a High Court Restoration. Hope this helps!


  • #15
    KTRIC
    Closed Accounts Posts: 9,348 ✭✭✭KTRIC


    CompanyBureau wrote: »
    Clever one is bang on - Only thing I would add is that if you want to use the old company name you could register it as a trading name under a new generic company name. If you really want the old name and it's dissolved less than a year you could do it this way, but if the company is dissolved more than 1 year you are looking at EUR4500 minimum for a High Court Restoration. Hope this helps!

    Thats exactly what I'm looking for , many thanks .


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