I am advised by the Revenue Commissioners that the specific reason why the business has ceased is not recorded by them. Businesses cease for many reasons, including trading conditions, retirement of the proprietors, death, formation of partnership or incorporation into Limited Company in the case of a sole trader. The following numbers of individuals and companies were ceased on their records during the period, as requested by the Deputy:
Year
|
Individuals
|
Companies
|
2005
|
35,536
|
8,399
|
2006
|
35,852
|
7,123
|
2007
|
34,586
|
7,184
|
2008
|
28,756
|
7,525
|
2009
|
11,915
|
4,455
|
Jan 2010
|
87
|
69
|
The Commissioners advise that the figures should be treated with some caution as, based on past experience, there tends to be a time lag between date of cessation and notification to Revenue. In the case of businesses ceasing in 2009, the bulk of returns are not due to be filed until later in 2010.