A non-trading company is a company that is no longer trading, but the directors have decided that they want to keep the company on the register.
If this is the case, then it is necessary to file an Annual Return and Abbreviated accounts once a year. We can provide this service at a cost of €150 plus vat on the assumption that there are no accounting transactions in the year.
There are several reasons why a director may wish to keep a company in existence i.e.
- They may want to recommence trade at some point in the future.
- The company may have tax losses forward, so in some cases they can be used in the future.
- There may be pending litigation against the company so the directors don’t have the strike off option until the litigation outcome is determined.
- The company’s name may have some value, so the directors may wish to keep the company going in the short to medium term.
Should you wish to discuss any of the items mentioned above, please do not hesitate to contact us for a free initial consultation.