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Close my UK company?

  • 06-07-2019 9:46pm
    #1
    SwordofLight
    Registered Users, Registered Users 2 Posts: 350 ✭✭


    Hi All
    I have a dormant UK company which has never traded. I started it a few years ago when I was living there but now am back for a while. I don't know if I will be going back over there yet.
    Wondering if there are advantages to keeping it going? It's costing me about €50 a year at the moment to keep it afloat. I'm thinking in terms of Brexit coming etc.
    Any ideas?


Comments

  • #2
    marieholmfan
    Registered Users, Registered Users 2 Posts: 2,744 ✭✭✭marieholmfan


    SwordofLight wrote: »
    Hi All
    I have a dormant UK company which has never traded. I started it a few years ago when I was living there but now am back for a while. I don't know if I will be going back over there yet.
    Wondering if there are advantages to keeping it going? It's costing me about €50 a year at the moment to keep it afloat. I'm thinking in terms of Brexit coming etc.
    Any ideas?
    You can boost turnover for government contract eligibility by swapping money between them.


  • #3
    SwordofLight
    Registered Users, Registered Users 2 Posts: 350 ✭✭SwordofLight


    marieholmfan wrote: »
    You can boost turnover for government contract eligibility by swapping money between them.
    I'm afraid Indont have the experience nor knowledge to appreciate that advice you've given me...
    Are you saying that if I wanted a contract with a UK govt body e.g. NHS, then moving money from an Irish company to this UK company would make my turnover look better - then the company would appear bigger and thus more attractive to bigger potential customers?
    Would my Irish based company need to be a subsidiary of the UK one?
    By 'moving money' do you mean the UK company would 'sell' products or services to the Irish one, making the money a payment from the Irish company?


  • #4
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,806 ✭✭✭GerardKeating


    marieholmfan wrote: »
    You can boost turnover for government contract eligibility by swapping money between them.

    Would that not be franulant ?


  • #5
    magic_murph
    Registered Users, Registered Users 2 Posts: 1,536 ✭✭✭magic_murph


    SwordofLight wrote: »
    I'm afraid Indont have the experience nor knowledge to appreciate that advice you've given me...
    Are you saying that if I wanted a contract with a UK govt body e.g. NHS, then moving money from an Irish company to this UK company would make my turnover look better - then the company would appear bigger and thus more attractive to bigger potential customers?
    Would my Irish based company need to be a subsidiary of the UK one?
    By 'moving money' do you mean the UK company would 'sell' products or services to the Irish one, making the money a payment from the Irish company?

    Don't do any of the above.
    Just close the company down and file your Nil returns etc


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