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Ltd Company - Should I close it

  • 28-02-2017 10:36am
    #1
    Jonny303
    Registered Users, Registered Users 2 Posts: 634 ✭✭✭


    Hi,

    I've a couple of things on the go at the moment but one is a limited company that as of this month I won't be trading from anymore.

    Obviously I will have to take into account the accounts from the start of the year and finish off the year, but if I was just to leave this company sit dormant afterwards, is there any costs involved? I will need a Ltd company again into the future so it would be handy just to let it sit there until it is needed.

    Note: I am also a partner in a sole trader/partnership and a director of another company along with two other people, this was just a side thing.


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Jonny303 wrote: »
    Hi,

    I've a couple of things on the go at the moment but one is a limited company that as of this month I won't be trading from anymore.

    Obviously I will have to take into account the accounts from the start of the year and finish off the year, but if I was just to leave this company sit dormant afterwards, is there any costs involved? I will need a Ltd company again into the future so it would be handy just to let it sit there until it is needed.

    Note: I am also a partner in a sole trader/partnership and a director of another company along with two other people, this was just a side thing.

    You need to file an annual return and accounts every year. if the accounts read nil as you are non trading you should be able to do that yourself or pay accountant whatever he charges. the annual return fee is €20 with the cro or you could pay the accountant a few hundred.


  • #3
    Jonny303
    Registered Users, Registered Users 2 Posts: 634 ✭✭✭Jonny303


    Worth doing then for the sake of €20 and have it sitting there ready to go


  • #4
    Phibsboro7
    Registered Users, Registered Users 2 Posts: 24 ✭Phibsboro7


    Jonny303 wrote: »
    Worth doing then for the sake of €20 and have it sitting there ready to go

    Just don't forget to file before your ARD every year. It's easy with zero accounts but can be VERY expensive if you forget. I have had to get two different people out of that situation over the last couple of years.


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