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TaxVince
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Category: UK Tax
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Experience:  Chartered Accountant >20 years + Qualified IFA
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Re: Irish Tax - Voluntarily Strike Off: Before the Irish Revenue

Resolved Question:

Re: Irish Tax - Voluntarily Strike Off: Before the Irish Revenue Commissioners issue a "letter of no objections" which later can be furnished to the Companies Registration Office,. what procedure is the Revenue follows. The said company is not trading anymore. Has no liabilities and turnover for over a year now. The said company already filled a nill return. (however there is -500 on the shareholders account) Before a this letter is issued will the revenue carry out an audit and if yes, how much will that cost etc.
Submitted: 1 year ago.
Category: UK Tax
Expert:  TaxVince replied 1 year ago.

TaxVince :

Hi. Thanks for your question. Should you find the answer below incomplete or you are not fully answered, please drop a reply before rating.

TaxVince :



On paper Companies House should contact the Irish Revenue Commissioners and other government departments if they object to the company being struck off. If there are still some taxes outstanding or if you did not clear your tax issues with the Revenue including the final tax returns etc ( no investigation or audits done as such), the Revenue may object to the company being closed down. There are cases where the Revenue may object to struck off the company because of debt. There are also many cases companies are closed/struck off with large amount of tax debt.

Customer:

There is only -€500 on the shareholders account. Should the company write that off?

TaxVince :



In practice once you just file forms on Companies House to close the company and the company is closed off without all the checks unless there is a big issue with your company. Even if a company is closed off, the Revenue can apply for the struck off to be reversed if they subsequently discover a big misnomer –that is very rare though.



Regards

TaxVince :

You can write off. i dont see any issues with that.

Customer:

The company just simple stopped trading no business since 2012. All taxes - dues paid.

TaxVince :

ok i dont see any reason why the Revenue will have any issues then.

Customer:

Thank you. But should we write of the €500 first or we can apply for the letter

Customer:

*off

TaxVince :

Yes adn then request request a letter of no objection can be obtained from the Revenue Commissioners. This should be requested in writing from: Office of the Revenue Commissioners, Companies Unit, City Centre Revenue District, 9/15 Upper O'Connell Street, Dublin 1. Telephone: 01(NNN) NNN-NNNNext 32989/32991/32993/32994/32997. Link to Revenue Website[IMAGE][SRC][/SRC][ALT][/ALT][WIDTH]100[/WIDTH][HEIGHT]100[/HEIGHT][STYLE][/STYLE][/IMAGE].


Once issued, the letter of no objection is valid for six months and hence you need to make the request to the Registrar to strike off the company as soon as you get the letter.

Customer:

Last question Vince. As the last Annual Return + Tax return showing €500 on the shareholders account should we wait until July 2014 when the company have to file a return + accounts to the CRO & revenue, or the company should just specify in the letter to the revenue comms that all liabilities to the directors written off.

Customer:

Briefly. Should we file a nil return before we request the letter of no objection?

TaxVince :



No you don’t have to wait till next tax return – you can strike off a company any time and prepare the final return that starts from the date of last return to date of closure. You could file both the last return plus the request for no objection.A cover letter is also good if things are not as clear as they say on the return.

Customer:

Thank you Vince

Customer:

Great Service as Always.

TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 961
Experience: Chartered Accountant >20 years + Qualified IFA
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