Late Return

honeymonster

Hey

I run a very small company, Ive only had three customers this year, I set it up in col to earn extra cash but now im working I put very little time in to it.

As a result I filed my accounts late and now I have to have them audited. Does anyone know how much this could cost? If you know any body you have used can you send me a PM.

Many thanks,

lecheile

honeymonster - do you need to have your accounts audited or are you now subject to a revenue audit? The former will cost you money (although by what you describe I dont image you go beyond the exemption limit for requiring an audit) the latter will involve you presenting your books and records to the revenue official who will come and visit. You may be issued with a penalty and interest for late filing but needs to be based on the amount of tax due. So if there is a large tax amount involved the penalty and interest can also be large and surpass the initial tax amount.

Dabko

This is a pain in the ass audit!

Unfortunatly no matter whether you turnover 1quid or a million, they still require the same amount of painstaking paper work.
I have just had an audit completed on a company of mine that only turned over 5k because i filled late. (Truth be told my own fault entirely). I nearly sh1t myself when accountant told me it would cost anywhere between 2-3k!:eek:

My fella explained that no matter how active the company is, the same amount of bullsh1t paper work and red tape must be adhered too. Wilkomen aus Irelande!;)

All i would say is haggle like a traveller with your accountant. As regards late fees to cro, these are calculated on the lenght of 'late time' there is.

Best of luck with it, my heart really does bleed for you.

honeymonster

Finally got this yoke sorted. I rang around a few firms and got a few quotes they wanted 2k + but I managed to get it done for under €700 from these lads www.soi.ie