How to close a limited company in Ireland will depend on the status of the company and future plans for the company.There are three possible routes to consider when closing a limited company: The voluntary strike off route can be used to close a limited company that has ceased to trade or has never traded and have gross assets and gross liabilities of less than €150.If you are selling or closing a limited company there are a number of things you need to consider.If the company or organisation is liable for Corporation Tax, it will still have to file Company Tax Returns and pay Corporation Tax during the closing or winding-up process when the company stops trading. If you are closing a limited company you usually need to have the agreement of your company's directors and shareholders.
If your business is facing financial difficulties, it can be hard to know what to do and where to turn.
This document aims to provide you with high-level information on these issues and links to more detailed information to help guide you through this process.
If you are a sole trader the process is quite straightforward.
Liquidation is the process of winding up a company so that it no longer exists by using its assets to pay its debts.
If you have a limited liability company that is to close or has ceased trading it’s very important that you take the necessary steps to formerly dissolve the company or follow a dormant company route.