Company Closure and Liquidation Route Review

Close a Company in Ireland

Strike-off, MVL or insolvency — the balance sheet decides the route.

Closing an Irish company is not one standard process. A clean company with minimal assets and liabilities may use voluntary strike-off. A solvent company with value to distribute normally needs a Members' Voluntary Liquidation. If the company cannot pay its debts, neither route is appropriate. Forti reviews the position first.

Get a free company closure route review View pricing
Key figures at a glance
Strike-off asset/liability limit
€150 each
Forti strike-off filing fee
€750 + VAT
CRO H15 government fee
€15
Revenue Letter of No Objection
Within 3 months of H15
Standard CGT rate
33%
Entrepreneur Relief rate
10%
Entrepreneur Relief lifetime limit
€1.5m (from 2026)
MVL and insolvency fees quoted after balance sheet review
🔍
First step
Route review — always free
📋
Forti handles
Strike-off and MVL coordination
⚖️
Insolvency
Referred to licensed practitioner
📍
Based in
Sandyford, Dublin 18

This service is for you if

The company has ceased trading and you want to close it properly
The company never traded but Annual Returns or tax registrations remain open
You are unsure whether the €150 strike-off threshold is met
The company has retained cash, property, investments or intercompany balances
The business is solvent but shareholders want the remaining value distributed
The company has overdue CRO or Revenue filings that need to be cleared first
The company cannot meet its debts and you need an honest insolvency referral
You may use the company again and want dormancy compared with permanent closure

Which closure route applies

The balance sheet determines the correct route. Choosing the wrong one — or filing before the position is clear — causes delays, rejections and additional cost.

Cleanest route
Voluntary strike-off
Assets ≤ €150 & Liabilities ≤ €150
No liquidator required. Form H15, Revenue Letter of No Objection and a newspaper notice are required. The lower-cost route for a company that has ceased or never traded.
Solvent with value
Members' Voluntary Liquidation
Solvent — all debts paid within 12 months
A qualified independent liquidator is appointed after the Declaration of Solvency. The formal route where cash, property or other value remains to be distributed.
Cannot pay debts
Insolvency route
Cannot pay debts as they fall due
Neither strike-off nor MVL is appropriate. A licensed insolvency practitioner must advise on CVL, SCARP or another formal process. Forti makes the referral.
QuestionStrike-offMVLInsolvency route
Can all debts be paid? Yes Yes, within 12 months No or uncertain
Assets No more than €150 in total Cash, property or other value remains May be insufficient to meet debts
Liabilities No more than €150, including contingent All can be paid in full Cannot be paid as they fall due
Liquidator Not required Required Required for CVL
Main filing route H15 through CORE Declaration, resolution and liquidator filings Process chosen by insolvency practitioner
Tax treatment Assets dealt with before dissolution Liquidator distributions generally capital Depends on the insolvency process
Do not net the balance sheet. For strike-off, assets and liabilities must each be no more than €150. A €500 asset is not offset by a €500 liability — both totals are tested independently.

Voluntary strike-off

The lower-cost route for a company that has ceased or never traded and can satisfy every condition in the H15 application. Every box must be ticked — a single unsatisfied condition will cause the application to fail.

💰
Assets and liabilities — each ≤ €150
Both totals must individually be no more than €150. Liabilities include contingent and prospective liabilities — not just amounts currently due.
📋
All Annual Returns filed
Every outstanding Annual Return must be delivered to the CRO before the H15 application is submitted.
🏛️
Revenue Letter of No Objection
Revenue must issue written confirmation dated no more than three months before the CRO receives the H15. Tax affairs must be reviewed and up to date.
📰
Newspaper notice
The prescribed notice must be published in at least one daily newspaper circulating in the State within 30 days before the application.
✍️
Director certification
Every director signs the H15 and confirms the company is not involved in ongoing or pending litigation.
🚫
No further business
After resolving to apply, the company must not carry on business or incur any new liabilities before dissolution.
Forti strike-off filing fee
€750
+ VAT
CRO H15 government fee
€15
Paid separately to CRO
Newspaper notice
Varies
External publisher charge
Catch-up accounts, tax returns, Revenue clearance work and creditor settlement are outside the €750 filing fee and are quoted separately after the position is reviewed.

Members' Voluntary Liquidation

The formal route for a solvent company with retained cash, property, investments or other value to distribute. Not limited by the €150 threshold — but the solvency test is strict.

⚖️
Solvency test
A majority of directors must conclude, after full enquiry, that every debt can be paid in full within no more than 12 months from the start of winding up.
📅
Declaration timing
The Declaration of Solvency must be made within the 28 days immediately before the winding-up resolution — not before or after.
🗳️
Resolution and appointment
Members pass the required resolution and appoint a qualified liquidator within 30 days of the Declaration of Solvency.
👤
Independent liquidator
Forti prepares and coordinates the accounting and tax work. The formal liquidator role is held by an independent qualified liquidator.
💳
Liabilities settled first
Taxes, creditors, employees, professional fees and other liabilities are settled through the liquidation before any final distribution to shareholders.
🏁
Final dissolution
Once the liquidator completes the statutory process and final filings, dissolution follows under the CRO timetable.

Shareholder tax in an MVL

A normal distribution of net assets by a liquidator is generally treated as a capital distribution. The applicable rate depends on the shareholder's personal position and any reliefs that genuinely apply.

33%
Standard CGT
The normal Capital Gains Tax rate where no relief changes the result. The gain is calculated by reference to the shares and distributions received.
10%
Revised Entrepreneur Relief
Can apply to qualifying business gains. The lifetime limit is €1.5 million for qualifying disposals from 1 January 2026. Detailed personal and company conditions apply.
Varies
Retirement Relief
A separate relief where the age, ownership, working-time and qualifying-asset conditions are met. Not available in every MVL situation.
An MVL does not guarantee a 10% tax rate or any relief. The shareholder's tax history, company activity, ownership period and asset mix must be reviewed before distributions are planned.

When the company cannot pay its debts

A company that cannot pay its debts as they fall due is not eligible for an MVL. Voluntary strike-off is also inappropriate where creditors or tax liabilities remain unresolved.

⚖️
Creditors' Voluntary Liquidation
A licensed liquidator deals with assets, creditor claims, employee matters and statutory reporting. The formal insolvency route where debts cannot be paid.
🔄
Rescue may still be possible
A viable small company may need advice on SCARP or another restructuring option rather than immediate closure. Forti makes the referral.
⚠️
Act before the position worsens
Continuing to incur debts where there is no reasonable prospect of payment can increase director risk. Early advice reduces exposure.
Forti can prepare accounting information and make a specialist insolvency referral. We do not present an insolvency referral as a strike-off or solvent MVL service.

Deal with every asset before dissolution

Once a company is dissolved, property left in its name becomes State property. This includes cash, vehicles, shares, intellectual property and real or leasehold property.

🏦
Bank accounts
Close or transfer the balance through the correct company process before dissolution. Cash left in a dissolved company passes to the State.
💸
Tax refunds and debtor balances
Collect or formally address amounts due to the company before the legal entity ends. These can be expensive or impossible to recover after dissolution.
🏢
Property and investments
Transfer, sell or distribute assets under the appropriate tax and legal process before the company is struck off or dissolved.
💡
Intellectual property and domains
Confirm ownership and transfer valuable rights — software, trade marks, domain names — before the company ceases to exist.
Dissolution does not distribute assets for you. Using strike-off while cash or property remains in the company can leave the asset vested in the State. Restoration may then be needed — at additional cost — before the company can deal with it.

Outstanding filings and taxes come first

The legal closure route does not erase earlier obligations. The company records must be brought to a position that supports the H15, the liquidator's work or the insolvency advice.

📋
CRO Annual Returns
For strike-off, all outstanding Annual Returns must be filed. MVL and insolvency work also require a reliable statutory record.
📊
Corporation Tax
Open CT1 periods, preliminary tax, losses, gains and cessation dates must all be reviewed and resolved.
🧾
VAT and employer PAYE
Final returns and cessations should match the last trading, payment and payroll activity of the company.
📂
RBO and company records
Beneficial ownership, officers, registered office and statutory registers must reflect the closing position accurately.
👥
Creditors and employee balances
Trade creditors, loans, wages, holiday pay and other obligations must be identified and addressed before the route is chosen.
📒
Final accounts
The closing balance sheet determines eligibility, tax and the information needed by Revenue, the CRO or the liquidator.

Dormancy or permanent closure?

Dormancy preserves the company for future use but does not stop its filing and compliance obligations. Permanent closure ends those obligations — but it is irreversible.

Keep the company — go dormant
Where there is a genuine plan to use the company again and the continuing annual cost is justified. The B1, accounts, registered office and company-record duties continue while it remains on the register.
Close the company permanently
Where the business is finished, no strategic value remains and the shareholders want ongoing obligations to end. Choose the closure route that matches the balance sheet.

How Forti handles the closure review

Five stages — from the initial route assessment through to dissolution confirmation.

1
Route assessment
We review the assets, liabilities, solvency, creditors, shareholders and intended outcome. The review is free and no bank access or Revenue login is needed for the first conversation.
2
CRO and Revenue check
Annual Returns, tax registrations, RBO data and outstanding filings are identified. Any catch-up work is scoped and quoted before it begins.
3
Closing accounts prepared
The balance sheet and tax position are brought to the standard required for the selected route — strike-off, MVL or insolvency referral.
4
Correct route implemented
Forti manages the H15 strike-off filing, coordinates an independent MVL liquidator, or makes a specialist insolvency referral. The route chosen is the right one for the company's position.
5
Dissolution confirmed
The company remains monitored until the CRO record shows the relevant closure stage or final dissolution. We confirm the outcome in writing.

What we need from you

Company number and latest CRO filing information
Latest accounts, bookkeeping records and bank balances
A list of assets, liabilities, loans and contingent claims
Details of shareholders, directors, employees and group companies
Outstanding Revenue returns, payments and correspondence
The reason for closure and whether the company may be needed again

Company closure pricing

Forti confirms the full scope before work starts. Historical accounts, tax returns, Revenue clearance, asset transfers and legal work are quoted separately where needed.

Most straightforward route
Voluntary strike-off
Forti's published filing fee covering the pre-strike-off review, director documentation and H15 preparation within scope.
€750
+ VAT · CRO €15 fee and newspaper notice extra
  • Balance sheet and eligibility review
  • Revenue Letter of No Objection coordination
  • Director H15 documentation
  • CORE filing and CRO follow-up
  • Catch-up work quoted separately
Get started
Members' Voluntary Liquidation
Accounting, tax and independent liquidator costs depend on the assets, shareholders, distributions and complexity.
Exact quote
After balance sheet and shareholder review
  • Closing accounts and tax computation
  • Declaration of Solvency preparation
  • Independent liquidator coordination
  • CGT and relief review before distribution
  • Statutory filing through to dissolution
Request an MVL quote
Insolvency advice
The licensed insolvency practitioner confirms the CVL, SCARP or other process and the professional fee.
Specialist quote
Referred to licensed practitioner
  • Honest assessment — no false route offered
  • Accounting information prepared by Forti
  • Referral to licensed insolvency practitioner
  • CVL, SCARP or restructuring as appropriate
Get a referral

Common company closure mistakes

Netting assets against liabilities
Strike-off requires each total to be independently no more than €150. A larger asset is not cancelled by a larger liability.
Applying for strike-off with cash in the bank
Anything left in the company at dissolution can become State property. Cash, refunds and investments must be dealt with first.
Using an MVL for an insolvent company
The directors must be able to state that all debts will be paid in full within 12 months. An insolvent company cannot use an MVL.
Ignoring contingent liabilities
Guarantees, disputes, future tax and other potential claims count in the strike-off review — not just amounts currently due.
Waiting for involuntary strike-off
Late returns, penalties and restoration costs continue to build while the company remains unresolved on the register.
Closing before collecting refunds or debtors
Tax refunds and customer balances can be lost or become expensive to recover after dissolution. Collect first.
Assuming an MVL guarantees 10% CGT
Revised Entrepreneur Relief and Retirement Relief have detailed personal and company conditions that must each be met.
Leaving the decision until records are incomplete
The route depends on a reliable closing balance sheet and up-to-date filings. Acting early reduces catch-up cost.

Related Forti guides and services

Company closure guide
Compare voluntary strike-off and liquidation in detail.
Read the closure guide →
Stopped trading guide
Understand the filing and restoration work where the company was left open.
Read the stopped trading guide →
Catch-up and restoration guide
Steps for overdue filings or a company already struck off the register.
Read the recovery guide →
Company secretarial
Annual Returns, statutory registers, resolutions and officer updates.
View company secretarial →
Tax registration
Close or correct Corporation Tax, VAT and employer PAYE registrations.
View tax registration →
Forti pricing
View the current strike-off and catch-up work prices.
View all pricing →

Common questions about closing a company

How do I know whether to use strike-off or an MVL?
Use voluntary strike-off only where the company meets every H15 condition, including assets and liabilities of no more than €150 each. A solvent company with real value to distribute normally uses an MVL.
Can I use strike-off if the company has €100 of assets and €500 of liabilities?
No. Assets and liabilities are tested separately. Each total must independently be no more than €150.
Can I use strike-off if the company owes Revenue or a supplier?
The H15 threshold includes liabilities, but unresolved creditors or tax debts can block Revenue clearance or lead to an objection. The debts should be settled before the application.
What filings must be complete for voluntary strike-off?
All outstanding CRO Annual Returns must be delivered. The company also needs a Revenue Letter of No Objection, which requires its tax affairs to be reviewed and up to date.
How much does voluntary strike-off cost with Forti?
Forti's published strike-off filing fee is €750 + VAT. The €15 CRO fee, newspaper notice and any catch-up accounting or tax work are separate and quoted after review.
What happens to assets left in the company at dissolution?
They become State property. Cash, property, refunds, intellectual property and investments must be dealt with before the company is struck off or dissolved.
What makes a company solvent for an MVL?
A majority of directors must conclude, after full enquiry, that the company can pay all debts in full within no more than 12 months from the start of the winding up.
Does Forti act as the liquidator?
No. Forti prepares and coordinates the accounting and tax work. The formal liquidator role is held by an independent qualified liquidator.
How are MVL distributions taxed?
Normal liquidator distributions are generally capital distributions. The shareholder may pay CGT at 33%, subject to the share cost base and any relief that genuinely applies.
Does Revised Entrepreneur Relief apply to every MVL?
No. The 10% rate applies only where the shareholder, shares, company and business assets meet the statutory conditions. The 2026 lifetime limit is €1.5 million for qualifying gains.
Can an insolvent company use voluntary strike-off?
No. An insolvent company needs advice from a licensed insolvency practitioner on CVL, SCARP or another formal process. Forti makes that referral honestly.
Should I keep the company dormant instead?
Dormancy may suit a company that will be used again. You must continue its B1, accounts, registered-office and statutory-record duties while it remains on the register.
How long does company closure take?
Both strike-off and liquidation take months rather than days. The timetable depends on completed filings, Revenue clearance, public notices, objections, asset realisation and CRO processing.

Choose the route before filing anything

A short balance-sheet review can prevent a rejected strike-off, an unnecessary liquidation or assets being left behind. Forti confirms the route first and only then scopes the closure work.

Get a free company closure route review

Get In Touch

  • Unit 106, Nesta Business Centre, 4-5 Burton Hall Rd, Sandyford, Dublin 18, D18 A094, Ireland

Company Formation

Accounting

Accountancy Services

Resources

Who We Help

Legal Compliance

Company

Follow Us

Linkedin Instagram

Subscribe Our Newsletter

Copyright [hfe_current_year] FORTI | All Rights Reserved | Terms of Business | Privacy Policy | Cookie Policy | Design and Developed by Salt Marketing