Whether your business has run its course, you're retiring, or you simply want to move on to new ventures, knowing how to properly close a company in Ireland is essential. This guide covers everything you need to know about the company closure process.
3-6 months
Typical timeline
€300-500
Strike-off cost
Form H15
Key CRO form
Understanding Your Options
There are three main ways to close a company in Ireland. The right choice depends on your company's financial situation:
Voluntary Strike-Off
For solvent companies with no assets or liabilities
Members Voluntary Liquidation (MVL)
For solvent companies with assets to distribute
Creditors Voluntary Liquidation (CVL)
For insolvent companies that cannot pay debts
Step-by-Step Closure Process
Assess Your Company's Position
Before proceeding, determine whether your company is solvent or insolvent:
- Can the company pay all its debts as they fall due?
- Are assets greater than liabilities?
- Are there any ongoing legal proceedings?
Settle Outstanding Obligations
Before closing, you need to deal with:
Redundancy, final payslips, P45s
Pay all outstanding debts
Terminate leases & agreements
Sell or transfer appropriately
File Final Tax Returns
All tax affairs must be brought up to date with Revenue. See our guides on filing tax returns and VAT returns:
- File final Corporation Tax return (Form CT1)
- Submit final VAT return and deregister
- Complete final payroll submissions
- Request a Letter of No Audit or tax clearance
Prepare Final Accounts
Prepare financial statements showing the company's final position. These should be signed by the directors and will form part of your CRO filing.
Submit Closure Application to CRO
File Form H15 for voluntary strike-off, or appoint a liquidator for MVL/CVL processes.
How Long Does It Take?
| Method | Timeline | Best For |
|---|---|---|
| Strike-off | 3-6 months | Simple, dormant companies |
| MVL | 3-6 months | Companies with assets |
| CVL | 6-12+ months | Insolvent companies |
Important: Director Obligations
Directors remain responsible until dissolution. Key obligations include:
- • Filing all required CRO returns
- • Maintaining company records for 6 years after dissolution
- • Not allowing the company to trade while insolvent
- • Cooperating with any liquidator appointed
Pro Tip
If your company has retained profits, an MVL can be more tax-efficient than extracting funds as dividends or salary. The distribution may qualify for Capital Gains Tax treatment with Entrepreneur Relief, reducing the effective tax rate significantly.
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