TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Liquidation of Companies and other Company Law issues

Revenue amended the Tax and Duty Manual (TDM) Liquidation of Companies and other Company Law issues to reflect the extension of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 to 31 December 2021.

Section 4 Procedure for Liquidation has been updated at paragraph 4.3. The minimum amount for a demand is €10,000 for one creditor or €20,000 for two or more creditors. The Act increased the minimum amount for a demand to €50,000.

Section 14 Examinership has been updated. Examinership allows companies which are experiencing financial difficulties to seek the protection of the High Court from creditors for a limited period (up to a maximum of 100 days). The Act increased the maximum days to 150 days.

See Revenue eBrief No. 216/21 for further details.