Navigating The Audit Exemption Of A Small Irish Company

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Navigating The Audit Exemption Of A Small Irish
Company
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CRO B1 ARD
Every year come hell or high water an Irish
Limited company needs to file the annual return
Form B1 with CRO. As the company director, you
are responsible for your companys annual return
and Peak is here to help our clients with the
preparation and filing the companys Annual
Return.
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Missing this deadline has serious implications
that with a bit of planning can be easily
avoided. The ARD deadline can be extended If
your company wishes to extend its current ARD, it
may do so by delivering an annual return to the
CRO not later than 28 days after its current ARD,
to which no financial statements need to be
annexed, and nominating on Form B73 the new ARD,
which date maybe not later than six months after
its first ARD.
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Why you should not miss the deadline
Loss of audit exemption Late filing
penalty Potential prosecution and company
strike-off Returns that are filed late with the
CRO incur a substantial Late Filing Fee.
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1. A company will also lose eligibility for
Audit Exemption for the following two years if
the annual return is filed late. We estimate the
cost of this will be 3,000 minimum. 2.Late
filing fee. This is not as bad as above at 100
with a daily penalty of 3 per day every day
thereafter, up to a maximum penalty of 1,200 per
return. https//www.cro.ie/Annual-Return/Filing
You can be sure to avoid this by contacting us at
contact_at_peakaccountingsolutions.ie
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For more update , visit us
https//peakaccountingsolutions.ie