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Suspending/pausing my company

  • 26-07-2013 03:28PM
    #1
    rat_race
    Registered Users, Registered Users 2 Posts: 975 ✭✭✭


    Hey all -- I'm an IT contractor operating under my own one-man Limited Company. The company is less than one year old.

    I pay an accountancy firm to do most of my accounting and revenue correspondance.

    I am considering doing some travelling, etc., but I don't want to shut down my company, but I also don't want it sitting there idle, costing me money in accounting costs, and I also don't want the burden of doing the accounting myself. Yes, I'm asking for a lot... ;)

    So my question is, is it possible to pause/suspend a company in the eyes of Revenue, such that the various forms can be delayed, or something along those lines?

    I highly doubt it, but can anyone offer any advice on this, or what my best/cheapest option would be to keep the company idle but alive while I'm away?


Comments

  • #2
    stevenmu
    Moderators, Society & Culture Moderators Posts: 9,688 Mod ✭✭✭✭stevenmu


    I don't know a lot about this, but from talking to a few IT contractors in the past the accountants they have dealt with have a ton of companies "shelved". When the accountants take on a new client they use one of the shelved companies and transfer it to the client, and then if the client goes back to PAYE or whatever, they transfer the company back and stick it on the "shelf" again. As far as I remember the fees for this were minimal, in the region of €100.

    It's definitely worth talking to an accountant that specialises in IT contractors and see what they have to say.


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