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A Co Ltd owned by a husband & wife team (75%, 25%), trading since 2009 with little or no activity in the past two years; it has paid off all its debts & taxes and is left with (say) €50,000 in the bank They now wish to dissolve /liquidate the company and as directors (office holder) are entitled to a termination payment in the same manner as an employee subject to meeting the conditions in TCA 1997 s 123, 201 and Sch 3.- can they each avail of a termination payment, (using up the remaining free funds) given that only one director ever took salary and that was in the earlier years

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Asked on 21 July 2016 7:07 pm