CPDStore Ireland

This course reviews the process of placing the company into liquidation as required by Company law. We are seeing a lot of business owners reassessing their lives and following the pandemic making a decision to relax and cease trading while at the same time extracting the value by way of a members liquidation of the Company. The course also emphasises the importance of timing for entrepreneurial and retirement relief and what to watch in order to come within remit of various reliefs in an MVL.

 John Murphy covers the following areas during this session:

1.The conditions for the tax reliefs in a liquidation scenario and what to watch here.

2.The importance of communication to Revenue from the outset. 

3.It will deal with 

• VAT and when possible to register, 
• distributing property/investments in specie (and the implications on certain tax reliefs), what tax is involved for the company/liquidator/shareholder and how this is dealt with and the paperwork involved. The need for the liquidator to be vigilant on all issues.
• CG50 requirements, if any
• Corporation tax requirements, timing of returns once a company placed into liquidation 
• If losses in period of liquidation or before – options available

4.Pitfalls from a tax perspective to be aware of

5.Some company law requirements - The importance of AML and holding meetings to agree payment of fees and the arrangement for holding the books and records.

6.The tax returns required to be filed by the liquidator including CRO returns.